Guideline Value for Gandhi Road (Jeeva Street Seva sathan)

Gandhi Road (Jeeva Street Seva sathan) guideline value

The current guideline value of Gandhi Road (Jeeva Street Seva sathan) is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Gandhi Road (Jeeva Street Seva sathan) has changed

The guideline value for Gandhi Road has seen significant changes over the years. Starting from the 2002 revision, the guideline value was Rs 506 per sq.ft. This increased to Rs 622 per sq.ft in 2003, marking a 23% rise. The value then surged to Rs 2,500 per sq.ft in 2007, reflecting a substantial increase of 302%. Following this, the 2012 revision recorded a decrease to Rs 7,000 per sq.ft, a drop of 33% from the previous figure. The value again increased to Rs 4,690 per sq.ft in 2017, showing a 49% rise. The most recent revisions saw the guideline value set at Rs 7,000 per sq.ft in 2023 and then increased by 10% to the current value of Rs 7,700 per sq.ft in 2024.

There are no figures available for the years not listed in the register for this street. The overall change from 2002 to 2024 reflects an increase of 1422% in the guideline value.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Gandhi Road's 2024 figure above this median.

• Gandhi Road: Rs 7,700 per sq.ft (2024)
• Gandhi Street (Road): Rs 7,700 per sq.ft (2024)
• Ganesh Nagar: Rs 1,650 per sq.ft (2024)
• Gokul Nagar: Rs 2,200 per sq.ft (2024)
• Ethirajapuram Main Road: Rs 4,400 per sq.ft (2024)
• Erikarai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Road (Jeeva Street Seva sathan)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% is Rs 5,39,000, and the registration fee at 2% is Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gandhi Road (Jeeva Street Seva sathan)?

The Sub Registrar Office that covers Gandhi Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the government. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road (Jeeva Street Seva sathan) is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 506 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 1422% over this period.

What is the median guideline value in Tambaram?

The median guideline value for streets in Tambaram is Rs 3,300 per sq.ft, with Gandhi Road's current value being above this median.

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

For a property valued at Rs 77,00,000, the stamp duty is Rs 5,39,000 and the registration fee is Rs 1,54,000, totaling Rs 6,93,000.

Where is the Sub Registrar Office for Gandhi Road located?

The Sub Registrar Office covering Gandhi Road is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.