Guideline Value for Gandhi Road/salai

Gandhi Road/salai guideline value

The current guideline value of Gandhi Road/salai in Kadaperi village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Commercial Class I Type - II.

How the guideline value of Gandhi Road/salai has changed

The guideline value for Gandhi Road/salai has seen several revisions over the years. Starting with the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a significant drop to Rs 2,010 per sq.ft, a decrease of 33%. In 2023, the guideline value rose to Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kadaperi

In Kadaperi village, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the guideline value of Gandhi Road/salai above this median.

• Gandhi Road (Ward-5): Rs 7,700 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,100 per sq.ft (2024)
• F.T.Z.Phase III,IV,V: Rs 1,100 per sq.ft (2024)
• Erikarai Rangam Street: Rs 1,650 per sq.ft (2024)
• Erikarai 7th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 6th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Road/salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Road/salai?

The Sub Registrar Office that covers Gandhi Road/salai is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kadaperi

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

Both buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction, as it is used to calculate the stamp duty based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Road/salai?

The current guideline value of Gandhi Road/salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Gandhi Road/salai?

Gandhi Road/salai is classified as Commercial Class I Type - II.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Gandhi Road/salai located?

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