Guideline Value for Gandhi Road

Gandhi Road guideline value

The current guideline value of Gandhi Road, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Gandhi Road has changed

The guideline value for Gandhi Road has seen several revisions over the years. The 2012 revision set the value at Rs 7,000 per sq.ft, which was then revised down to Rs 4,690 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 7,000 per sq.ft, and the most recent 2024 revision has set it at Rs 7,700 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, 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 current rate above that median.

• Gandhi Road (Jeeva Street Seva sathan): 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

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% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. The stamp duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Road?

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, 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 Tambaram

The guideline value is a crucial metric used during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding their property's worth.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road 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 changed from Rs 7,000 per sq.ft in 2012 to Rs 4,690 per sq.ft in 2017, then back to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024.

What is the land classification of Gandhi Road?

Gandhi Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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 would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Gandhi Road?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Gandhi Road, located at No.26, mes Road, East Tambaram, Chennai-600059.