Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Gandhi Nagar has changed

Over the years, the guideline value for Gandhi Nagar has undergone several revisions. The 2007 revision set the value at Rs 210 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, it then decreased to Rs 469 per sq.ft in 2017. The 2023 revision maintained the value at Rs 700 per sq.ft, and this value remains unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 revision shows a substantial increase of 233%. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is equal to the current guideline value of Gandhi Nagar.

• Ganapathy Avenue: Rs 2,389 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)
• Ganga Nagar: Rs 700 per sq.ft (2024)
• Eden Garden: Rs 700 per sq.ft (2024)
• Good Will Nagar: Rs 800 per sq.ft (2024)
• Gowtham Nagar: Rs 700 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kayirambedu, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and remained Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification for Gandhi Nagar?

The land classification for Gandhi Nagar is Residential Special Type - II, which indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for Gandhi Nagar?

The Sub Registrar Office for Gandhi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated in Kayirambedu?

Stamp duty and registration fees in Kayirambedu are calculated based on the higher of the guideline value or the sale price of the property. The stamp duty is typically 7%, while the registration fee is 2% of the guideline value.