Guideline Value for Gandhi Street Pradhana Salai

Gandhi Street Pradhana Salai guideline value

The current guideline value of Gandhi Street Pradhana Salai is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Street Pradhana Salai has changed

The guideline value for Gandhi Street Pradhana Salai has undergone several revisions over the years. In 2007, the guideline value was set at Rs 400 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in 2012. However, this value dropped to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,500 per sq.ft, and the latest revision for 2024 has further increased it to Rs 1,650 per sq.ft.

Notable changes include a remarkable 275% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and the most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in Puzhal is Rs 1,102 per sq.ft, placing Gandhi Street Pradhana Salai above this median.

• Gandhi Street First Lane: Rs 1,650 per sq.ft (2024)
• Gandhi Street 3rd Lane: Rs 1,650 per sq.ft (2024)
• Gandhi Street 2nd Street: Rs 1,650 per sq.ft (2024)
• Gandhi Street 2nd Lane: Rs 1,650 per sq.ft (2024)
• Gangadaran Street: Rs 1,650 per sq.ft (2024)
• Gangadharan 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street Pradhana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street Pradhana Salai?

The Sub Registrar Office that covers Gandhi Street Pradhana Salai is the Redhills Sub Registrar Office. The address is Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Puzhal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value is used to assess the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street Pradhana Salai?

The current guideline value of Gandhi Street Pradhana Salai is Rs 1,650 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 400 per sq.ft in 2007, increasing to Rs 1,500 in 2012, dropping to Rs 1,005 in 2017, then rising to Rs 1,500 in 2023, and finally reaching Rs 1,650 in 2024.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, which is lower than the current value of Gandhi Street Pradhana Salai.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Gandhi Street Pradhana Salai?

The Redhills Sub Registrar Office covers Gandhi Street Pradhana Salai, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.