Guideline Value for Gandhi Street (Road)

Gandhi Street (Road) guideline value

The current guideline value of Gandhi Street (Road) in Tambaram village, under the Tambaram Joint 1 SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Gandhi Street (Road) has changed

The guideline value for Gandhi Street (Road) has seen significant changes over the years. In 2002, the value was Rs 623 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, marking a 61% rise. The value then rose to Rs 2,500 per sq.ft in 2007, which was a 150% increase. Following this, the value jumped to Rs 7,000 per sq.ft in 2012, reflecting a substantial 180% increase. However, it saw a decrease to Rs 4,690 per sq.ft in 2017, which was a drop of 33%.

From 2017 to 2023, the guideline value increased to Rs 7,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the value at Rs 7,700 per sq.ft, a 10% increase from the previous year. There are no figures available for the years not mentioned in this register for this street.

Guideline values in Tambaram

In Tambaram, 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, with a median value of Rs 3,300 per sq.ft. Gandhi Street (Road) is above this median with its current guideline value.

• Ganesh Nagar: Rs 1,650 per sq.ft (2024)
• Gandhi Road (Jeeva Street Seva sathan): Rs 7,700 per sq.ft (2024)
• Gandhi Road: Rs 7,700 per sq.ft (2024)
• Gokul Nagar: Rs 2,200 per sq.ft (2024)
• Govindaraj 1-st St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street (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, totaling Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street (Road)?

The Sub Registrar Office covering Gandhi Street (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 critical factor during property registration in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When a property is sold, the guideline value is used to calculate applicable duties and fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

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

The current guideline value of Gandhi Street (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 significantly, increasing from Rs 623 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 1136% over this period.

What is the land classification for Gandhi Street (Road)?

The land classification for Gandhi Street (Road) is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Gandhi Street (Road)?

The Sub Registrar Office for Gandhi Street (Road) is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Gandhi Street (Road)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.