Guideline Value for Gandhi Road

Gandhi Road guideline value

The current guideline value of Gandhi Road in Perungalathur village is Rs 2,310 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office and is classified as 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 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a remarkable rise of 600%. However, the value then decreased to Rs 1,407 per sq.ft in 2017, reflecting a decline of 33%. The value continued to rise, reaching Rs 2,100 per sq.ft in 2023, and then increased again by 10% to the current value of Rs 2,310 per sq.ft in 2024.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 670%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the current guideline value of Gandhi Road.

• Gandhi Street: Rs 1,980 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,960 per sq.ft (2024)
• Ganesh Nagar: Rs 2,310 per sq.ft (2024)
• Gandhi Nagar: Rs 3,960 per sq.ft (2024)
• Ganapathy Road: Rs 2,640 per sq.ft (2024)
• Gangadharan Theru: Rs 1,650 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total fees to Rs 2,07,900. It is important to note that 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 more information.

Which Sub Registrar Office covers Gandhi Road?

The Sub Registrar Office that covers Gandhi Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is assessed by the government and reflects the market rate for land in that area.

When selling a property, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration. The guideline value thus serves as a benchmark for both buyers and sellers in real estate transactions.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road is Rs 2,310 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 2,310 per sq.ft in 2024, reflecting an overall increase of 670% over this period.

What is the stamp duty for property on Gandhi Road?

The stamp duty for property on Gandhi Road is 7% of the guideline value, which amounts to Rs 1,61,700 for a 1,000 sq.ft plot at the current rate.

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

The Sub Registrar Office for Gandhi Road is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the other streets in Perungalathur with guideline values?

Other streets in Perungalathur include Gandhi Street at Rs 1,980 per sq.ft, Gandhi Nagar Extension at Rs 3,960 per sq.ft, and Ganesh Nagar at Rs 2,310 per sq.ft, among others.