Guideline Value for Gandhi Street Devi Nagar

Gandhi Street Devi Nagar guideline value

The current guideline value of Gandhi Street Devi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gandhi Street Devi Nagar has changed

The guideline value for Gandhi Street Devi Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value saw a significant increase of 49% in the subsequent 2023 revision, bringing it up to Rs 2,200 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 2,400 per sq.ft, reflecting a rise of 9% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. Overall, the guideline value has increased by 9% from the 2012 figure to the current 2024 figure.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is equal to the 2024 guideline value for Gandhi Street Devi Nagar.

• Ganesh Nagar: Rs 2,400 per sq.ft (2024)
• Gangaiamman koil street: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar: Rs 1,100 per sq.ft (2024)
• Ganapathi Nagar Virivakkam: Rs 1,500 per sq.ft (2024)
• Ganapathi Nagar (Ragavendra Street): Rs 1,500 per sq.ft (2024)
• Ganapathi Nagar Mylaikarpagambal Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. Together, the total fees would be Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Street Devi Nagar?

The Sub Registrar Office that covers Gandhi Street Devi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Gandhi Street Devi Nagar?

The current guideline value of Gandhi Street Devi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Gandhi Street Devi Nagar?

The land classification for Gandhi Street Devi Nagar is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Gandhi Street Devi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.