Guideline Value for Gandhi Salai

Gandhi Salai guideline value

The current guideline value of Gandhi Salai is Rs 1,960 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Salai has changed

Over the years, the guideline value of Gandhi Salai has seen significant changes. In 2003, the value was Rs 76 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value surged to Rs 1,800 per sq.ft in 2012, but then dropped to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023, and most recently, it has reached Rs 1,960 per sq.ft in 2024. The register has no figure for this street in 2002.

The changes between revisions have been notable. From 2003 to 2007, the guideline value increased by 295%. However, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 9%. Overall, from 2003 to 2024, the guideline value has increased by 2479%.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Gandhi Salai is below this median.

• Ganesh Nagar: Rs 1,980 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Friends Avenue Annex: Rs 3,850 per sq.ft (2024)
• Friends Avenue: Rs 1,980 per sq.ft (2024)
• Gopal Nagar: Rs 2,750 per sq.ft (2024)
• Gopal Nagar 1 To 5 Streets: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value would be Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, making the total cost for stamp duty and registration fees Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Gandhi Salai?

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

For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Nanmangalam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value serves as a baseline for calculating these fees. Buyers and sellers must be aware of the guideline value to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gandhi Salai?

The current guideline value of Gandhi Salai is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Gandhi Salai has changed significantly, with the value rising from Rs 76 per sq.ft in 2003 to Rs 1,960 per sq.ft in 2024.

What is the median guideline value in Nanmangalam?

The median guideline value in Nanmangalam is Rs 2,750 per sq.ft, with Gandhi Salai's value being below this median.

What are the stamp duty rates for property in Gandhi Salai?

The stamp duty rate for property transactions in Gandhi Salai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Gandhi Salai is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can also find your SRO online.