Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, a rise of 200%. However, the value decreased to Rs 201 per sq.ft in 2017, marking a decline of 33%. The 2023 revision maintained the value at Rs 300 per sq.ft, with no change from the previous year. As of the 2024 revision, the guideline value remains at Rs 300 per sq.ft, showing no change from 2023.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Gandhi Nagar's 2024 figure above this median.

• G.E.C Nagar: Rs 150 per sq.ft (2024)
• Guberan Garden: Rs 300 per sq.ft (2024)
• Ideal Forms: Rs 200 per sq.ft (2024)
• David Nagar: Rs 150 per sq.ft (2024)
• Kamaraj Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Kolathur. It serves as the basis for calculating stamp duty and registration fees when registering a property. Buyers and sellers need to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in 2023 and 2024.

What are the other streets in Kolathur and their guideline values?

Other streets in Kolathur include G.E.C Nagar at Rs 150 per sq.ft, Guberan Garden at Rs 300 per sq.ft, Ideal Forms at Rs 200 per sq.ft, David Nagar at Rs 150 per sq.ft, Kamaraj Nagar at Rs 300 per sq.ft, and Bajanai Koil Street at Rs 250 per sq.ft.

Where is the Sub Registrar Office for Gandhi Nagar located?

The Sub Registrar Office for Gandhi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gandhi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000 at a rate of 7%.