Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Mettupalayam village under the Sunguvarchattram SRO, is Rs 181 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II 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 most recent revision in 2024 maintains the value at Rs 181 per sq.ft, which was also the figure set in the previous year, 2023. Prior to this, the 2017 revision recorded a guideline value of Rs 121 per sq.ft, marking a significant increase of 50% from 2017 to 2023. The 2012 revision had set the value at Rs 180 per sq.ft, indicating a decrease of 33% in the following revision in 2017. The 2007 revision showed a guideline value of Rs 50 per sq.ft, which reflects a considerable increase of 260% to reach Rs 180 per sq.ft in 2012.

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 262%, reaching the current figure of Rs 181 per sq.ft.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 181 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 181 per sq.ft, which is equal to the guideline value for Gandhi Nagar.

• Farm Land: Rs 200 per sq.ft (2024)
• Gayathri Nagar: Rs 200 per sq.ft (2024)
• Ellaiamman Kovil Street: Rs 181 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 200 per sq.ft (2024)
• Banrutti Main Road: Rs 200 per sq.ft (2024)
• Kangaiamman Street: Rs 181 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 181 per sq.ft, the total guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, while the registration fee at 2% would be Rs 3,620, bringing the total cost for these fees to Rs 16,290. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Mettupalayam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the sale price is in line with the guideline value can help avoid potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 181 per sq.ft in 2024, reflecting an overall increase of 262% over the years.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Gandhi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 1,81,000, the stamp duty would be Rs 12,670.