Guideline Value for Gandhi Road

Gandhi Road guideline value

The current guideline value of Gandhi Road in Mugappair village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gandhi Road has changed

The guideline value for Gandhi Road has seen several revisions over the years. In 2002, the value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 1,200 per sq.ft in 2007, representing a 160% change. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 192% increase from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 3,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 brought the value to Rs 3,800 per sq.ft, a 9% increase from the previous year. The overall change from 2002 to 2024 is an increase of 805%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. Gandhi Road's current guideline value is below this median.

• Gandhi Street: Rs 3,800 per sq.ft (2024)
• Gandhi Street to join the Bajanikoil street: Rs 3,800 per sq.ft (2024)
• Gems Park: Rs 7,100 per sq.ft (2024)
• Gengaiamman Nagar: Rs 3,800 per sq.ft (2024)
• Everest Colony: Rs 8,800 per sq.ft (2024)
• Golden Colony: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, resulting in a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Gandhi Road?

The Sub Registrar Office that covers Gandhi Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 420 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 805%.

What is the land classification for Gandhi Road?

The land classification for Gandhi Road is Residential Class II Type - I.

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

Other streets in Mugappair include Gandhi Street and Gengaiamman Nagar, both at Rs 3,800 per sq.ft, and Gems Park and Golden Colony at Rs 7,100 per sq.ft, among others.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.