Guideline Value for Gandhi Road

Gandhi Road guideline value

The current guideline value of Gandhi Road in Kilkattalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Gandhi Road has changed

The guideline value for Gandhi Road has seen significant changes over the years. In 2003, the guideline value was Rs 208 per sq.ft. This increased to Rs 700 per sq.ft in 2007, marking a rise of 237%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a substantial increase of 186%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The next revision in 2023 saw the value rise again to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 958%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,530 per sq.ft, indicating that Gandhi Road's current value is below the median.

• Gandhi Nagar Main Road: Rs 4,125 per sq.ft (2024)
• Gandhi Street: Rs 3,080 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar: Rs 4,125 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Therefore, the total cost for stamp duty and registration would be Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Gandhi Road?

The Sub Registrar Office that covers Gandhi Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the Registration Department and is subject to periodic revisions based on market conditions.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value of Gandhi Road changed over the years?

The guideline value has changed from Rs 208 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 958% over the years.

What is the land classification of Gandhi Road?

Gandhi Road is classified as Residential Class I Type - III under the Pallavaram SRO.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Where is the Sub Registrar Office for Gandhi Road located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.