Guideline Value for Gandhi Salai

Gandhi Salai guideline value

The current guideline value of Gandhi Salai is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Kavulbazaar village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is 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. The 2017 revision set the value at Rs 502 per sq.ft, which increased to Rs 750 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 825 per sq.ft, a change of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

In Kavulbazaar, there are 44 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median value for these streets is Rs 825 per sq.ft, which is the same as the guideline value for Gandhi Salai.

• Gandhi Street: Rs 825 per sq.ft (2024)
• Garugambakkam Salai: Rs 825 per sq.ft (2024)
• Duraimani Salai: Rs 825 per sq.ft (2024)
• Delhi Babu Street: Rs 825 per sq.ft (2024)
• Kalaignar Salai: Rs 825 per sq.ft (2024)
• Kalaignar Street: Rs 825 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 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees together to Rs 74,250. 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 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 Kavulbazaar

The guideline value plays a crucial role in the registration process when buying or selling properties in Kavulbazaar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This ensures transparency and adherence to the legal requirements 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 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What is the land classification for Gandhi Salai?

The land classification for Gandhi Salai is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Gandhi Salai?

The registration office for Gandhi Salai is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Gandhi Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000, leading to specific stamp duty and registration fees.