Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Puthur village under the Tambaram Joint 1 SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft. The subsequent 2023 revision increased the value to Rs 500 per sq.ft, and finally, in 2024, it rose to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase in the guideline value.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value for Gandhi Nagar is below this median.

• Eden Garden: Rs 1,100 per sq.ft (2024)
• Ebinezer Street: Rs 770 per sq.ft (2024)
• Ishwarya Avenue: Rs 770 per sq.ft (2024)
• Chithrammal Nagar: Rs 770 per sq.ft (2024)
• J.P. Avenue Phase - I: Rs 770 per sq.ft (2024)
• J.P. Avenue Phase - II: Rs 770 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Gandhi Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puthur. It is the basis on which stamp duty and registration fees are calculated, ensuring that both parties are aware of the official value assigned to the property.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value.

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

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.