Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Gandhi Nagar has changed

Over the years, the guideline value of Gandhi Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, before rising again to Rs 500 per sq.ft in both the 2023 and 2024 revisions. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 233%. The guideline value remained stable from 2023 to 2024, showing no percentage change.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the current guideline value for Gandhi Nagar.

• Ganapathi Syndicate: Rs 400 per sq.ft (2024)
• Gandhi Nagar Extension-I: Rs 500 per sq.ft (2024)
• Gandhi Nagar Extension-II: Rs 500 per sq.ft (2024)
• Ganapathi Nagar: Rs 400 per sq.ft (2024)
• Eswari Garden: Rs 500 per sq.ft (2024)
• G K Nagar: Rs 335 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Orathur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that all transactions are fairly assessed according to the established values in the region.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and finally stabilizing at Rs 500 per sq.ft in the 2023 and 2024 revisions.

Which Sub Registrar Office covers Gandhi Nagar?

The Gooduvancheri Sub Registrar Office covers Gandhi Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Gandhi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000 at 7%.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.