Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 72 per sq.ft. This increased to Rs 107 per sq.ft in 2003, marking a 49% rise. The value continued to climb, reaching Rs 300 per sq.ft in 2007, a significant increase of 180%. By 2012, the guideline value rose to Rs 800 per sq.ft, which was a 167% increase from the previous revision. However, it saw a decrease to Rs 536 per sq.ft in 2017, representing a decline of 33%.

In 2023, the guideline value was Rs 1,000 per sq.ft, and it remained unchanged in the 2024 revision at Rs 1,001 per sq.ft. This indicates a marginal increase of 0% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,290%.

Guideline values in Kathivakkam

Kathivakkam village has 47 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 1,600 per sq.ft, with the median value being Rs 1,001 per sq.ft. The guideline value for Gandhi Nagar is equal to this median.

• Ennorekuppam: Rs 1,000 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 1,100 per sq.ft (2024)
• Don Bosco Road: Rs 1,001 per sq.ft (2024)
• Harizan colony: Rs 1,000 per sq.ft (2024)
• Indra Nagar: Rs 1,001 per sq.ft (2024)
• Darga Road (Railway Station South Side Road): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office covering Gandhi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kathivakkam

The guideline value is an essential factor when registering property transactions in Kathivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 72 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 1,290% over the years.

What are the other streets in Kathivakkam with their guideline values?

Other streets in Kathivakkam include Ennorekuppam at Rs 1,000 per sq.ft, Ellaiamman Koil Street at Rs 1,100 per sq.ft, and Don Bosco Road at Rs 1,001 per sq.ft, among others.

How is stamp duty calculated for property in Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070.

Where is the Sub Registrar Office for Gandhi Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, which covers Gandhi Nagar.