Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value for Gandhi Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 233 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a 200% rise. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a 329% increase. However, in the 2017 revision, the value dropped by 33% to Rs 2,010 per sq.ft. The 2023 revision saw a substantial increase of 49%, bringing the value to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1316%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Gandhi Nagar's 2024 figure above this median.

• Gandhi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 4,125 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gandhi Nagar?

The Gandhi Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kilkattalai. It serves as a benchmark for determining the value of properties during registration. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to facilitate the registration process.

When a property is sold, 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 the 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 233 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1316% over this period.

What is the land classification of Gandhi Nagar?

The land classification for Gandhi Nagar is Mixed Type - II, which indicates the type of usage permitted in the area.

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

The Sub Registrar Office covering Gandhi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000.