Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Vettavedagai village under the Sunguvarchattram SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gandhi Nagar has changed

Looking at the revisions, the guideline value for Gandhi Nagar has seen several changes over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. In the 2017 revision, the value was Rs 134 per sq.ft, marking a decrease of 33% from the 2012 figure. The value then increased by 49% to Rs 200 per sq.ft in the 2023 revision, and it has remained at this level into the 2024 revision, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only available figures for the guideline value are from the revisions in 2012, 2017, 2023, and 2024.

Guideline values in Vettavedagai

In Vettavedagai, there are five streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft, with the median being Rs 200 per sq.ft. The guideline value for Gandhi Nagar aligns with this median, set at Rs 200 per sq.ft.

• Church Street: Rs 200 per sq.ft (2024)
• Bangalore Main Road: Rs 500 per sq.ft (2024)
• New Colony: Rs 200 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total Rs 18,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Vettavedagai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures that the transaction is transparent and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 200 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Nagar has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024. There were no figures available for the years 2002, 2003, and 2007.

What are the other streets in Vettavedagai with their guideline values?

Other streets in Vettavedagai include Church Street and New Colony, both at Rs 200 per sq.ft, while Bangalore Main Road has a higher value of Rs 500 per sq.ft. Perumal Kovil Street also carries a value of Rs 200 per sq.ft.

How is 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, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000, leading to a stamp duty of Rs 14,000.

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

The Sub Registrar Office for Gandhi Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone. You can find more information by visiting the provided link to find your SRO.