Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Venkadu village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

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 is from 2012, where the value was Rs 300 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft, marking a decline of 33%. However, the value increased significantly by 49% to Rs 300 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, indicating no change between these two years.

Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 300 per sq.ft.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with the median value being Rs 300 per sq.ft. The guideline value for Gandhi Nagar aligns with this median.

• Ellaiyamman Koil Street: Rs 310 per sq.ft (2024)
• Brijvaji Avenue: Rs 100 per sq.ft (2024)
• Jeyam Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 300 per sq.ft (2024)
• Lake View Avenue: Rs 310 per sq.ft (2024)
• Main Road: Rs 400 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 amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total 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.

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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Venkadu, as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable fees. The registration process requires that the transaction value meets or exceeds the guideline value to avoid any discrepancies during the registration at the Sub Registrar Office.

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 remained constant at Rs 300 per sq.ft from 2012 to 2024, with a notable decrease to Rs 201 per sq.ft in 2017 and a subsequent increase back to Rs 300 per sq.ft in 2023.

What is the stamp duty rate for properties in Gandhi Nagar?

The stamp duty rate for properties in Gandhi Nagar is 7% of the guideline value or sale price, whichever is higher.

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

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

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

Other streets in Venkadu include Ellaiyamman Koil Street at Rs 310 per sq.ft, Brijvaji Avenue at Rs 100 per sq.ft, Jeyam Nagar at Rs 300 per sq.ft, Bajanai Koil Street at Rs 300 per sq.ft, Lake View Avenue at Rs 310 per sq.ft, and Main Road at Rs 400 per sq.ft.