Guideline Value for Gandhi Park Street

Gandhi Park Street guideline value

The current guideline value of Gandhi Park Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Gandhi Park Street has changed

The guideline value for Gandhi Park Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 1,500 per sq.ft in 2023 and further increased to Rs 1,600 per sq.ft in 2024, reflecting a 7% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 433%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Gandhi Park Street is below this median.

• Gandhi Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Gandhi Street: Rs 1,600 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Park Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gandhi Park Street?

The Sub Registrar Office that covers Gandhi Park Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the actual market conditions and the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gandhi Park Street?

The current guideline value of Gandhi Park Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 433% over the years.

What are the stamp duty and registration fees for property in Gandhi Park Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Gandhi Park Street?

The Selaiyur Sub Registrar Office covers Gandhi Park Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value and the sale price is taken into account for calculating these fees.