Guideline Value for Gandhi Salai

Gandhi Salai guideline value

The current guideline value of Gandhi Salai, located in Erandankattalai village under the Pammal SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Gandhi Salai has changed

The guideline value for Gandhi Salai has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 has raised this figure to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Notably, the overall change from 2017 to 2024 reflects a significant increase of 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions highlight a 49% increase from 2017 to 2023, indicating a consistent upward trend in the guideline value.

Guideline values in Erandankattalai

Erandankattalai village features a range of guideline values across its 60 streets under the Pammal SRO. The 2024 guideline value for Gandhi Salai aligns with the median value of Rs 1,100 per sq.ft for the area. Other streets in Erandankattalai have varying rates, as listed below:

• Gajalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Giramani Street: Rs 1,100 per sq.ft (2024)
• Gokulam Nagar: Rs 1,650 per sq.ft (2024)
• Gokulam nagar phase - II: Rs 3,700 per sq.ft (2024)
• Everest Garden - VI: Rs 1,100 per sq.ft (2024)
• Everest Garden - V: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, calculated at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000. The total cost for these fees together would be Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gandhi Salai?

The Sub Registrar Office that covers Gandhi Salai is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Erandankattalai

The guideline value plays a crucial role during the registration of property transactions in Erandankattalai. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

When buying or selling property, the guideline value serves as a reference point for the transaction value. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Salai?

The current guideline value of Gandhi Salai is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

Other streets in Erandankattalai include Gajalakshmi Nagar at Rs 1,650 per sq.ft, Giramani Street at Rs 1,100 per sq.ft, Gokulam Nagar at Rs 1,650 per sq.ft, Gokulam nagar phase - II at Rs 3,700 per sq.ft, Everest Garden - VI at Rs 1,100 per sq.ft, and Everest Garden - V at Rs 1,100 per sq.ft.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is generally 7% of the guideline value or sale price, whichever is higher. The registration fee is typically 2% of the same value.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the relevant online portal. For Gandhi Salai, the office is the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.