Guideline Value for Gandhi Street (Pari Nagar)

Gandhi Street (Pari Nagar) guideline value

The current guideline value of Gandhi Street (Pari Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gandhi Street (Pari Nagar) has changed

The guideline value for Gandhi Street (Pari Nagar) has undergone several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it saw a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 5,500 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes have varied. From 2007 to 2012, there was a substantial increase of 313%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 355%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Gandhi Street (Pari Nagar) is above this median.

• Ganesan Street (Parry Nagar): Rs 5,500 per sq.ft (2024)
• Gandhi Street: Rs 4,900 per sq.ft (2024)
• Ganga Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,900 per sq.ft (2024)
• Gangai Kondan Salai: Rs 3,300 per sq.ft (2024)
• Ganapathy Naicken Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street (Pari Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Street (Pari Nagar)?

The Sub Registrar Office that covers Gandhi Street (Pari Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the current market standards set by the government.

Frequently asked questions

What is the current guideline value of Gandhi Street (Pari Nagar)?

The current guideline value of Gandhi Street (Pari Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 355% from 2007 to 2024.

What are the stamp duty and registration fees for property in Gandhi Street (Pari Nagar)?

For a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Gandhi Street (Pari Nagar)?

The Ashok Nagar Sub Registrar Office covers Gandhi Street (Pari Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Gandhi Street (Pari Nagar) being above this median at Rs 5,500 per sq.ft.