Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In 2002, the value was Rs 221 per sq.ft. This increased to Rs 252 per sq.ft in 2003, marking a 14% rise. The value then experienced a significant increase to Rs 900 per sq.ft in 2007, representing a 257% change. Following this, the value rose to Rs 3,500 per sq.ft in 2012, which was a 289% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of 33%. The most recent revisions saw the value rise to Rs 3,500 per sq.ft in 2023, an increase of 49%, and then to Rs 3,900 per sq.ft in 2024, marking an 11% increase.

There are no figures available for the revisions of the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1665%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the current value for Gandhi Street.

• Gangai Street: Rs 3,900 per sq.ft (2024)
• Gas Godown Street (Saraswathi Nagar): Rs 3,900 per sq.ft (2024)
• Godhavari Street: Rs 3,900 per sq.ft (2024)
• Goodshed 1st Lane: Rs 3,900 per sq.ft (2024)
• Goodshed 2nd Lane: Rs 2,800 per sq.ft (2024)
• Goodshed 3rd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 further calculations.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from the transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 221 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1665% over the years.

What is the stamp duty rate for properties in Gandhi Street?

The stamp duty rate for properties in Gandhi Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Gandhi Street located?

The Sub Registrar Office for Gandhi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Gangai Street, Gas Godown Street (Saraswathi Nagar), Godhavari Street, Goodshed 1st Lane, and Goodshed 3rd Lane.