Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Palavanthangal 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 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,900 per sq.ft. The revisions for 2002 and 2003 do not have figures listed for this street.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 180%. However, from 2012 to 2017, the value dropped by 33%. The value then surged by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 saw an increase of 11%. Overall, from 2007 to 2024, the guideline value has increased by 212%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Gandhi Street.

• Gandhi Road/Gandhi Salai: Rs 3,900 per sq.ft (2024)
• Gopal Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Gopal Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Gopal Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Elango Adigal Street: Rs 3,900 per sq.ft (2024)
• G S T Road: Rs 11,000 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 would be 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, making the total cost for these fees 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 more details.

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 additional information.

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

The guideline value is a critical factor during the registration process of property transactions in Palavanthangal. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in accordance with government regulations.

When buying or selling property, the guideline value serves as a benchmark for pricing and helps in assessing the value of the property being transferred. This ensures transparency and compliance with legal requirements in property transactions.

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 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 212% over the years.

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

Other streets in Palavanthangal with the same guideline value of Rs 3,900 per sq.ft include Gandhi Road/Gandhi Salai, Gopal Colony 1st Street, Gopal Colony 2nd Street, Gopal Colony 3rd Street, and Elango Adigal Street.

What are the stamp duty and registration fees for a property in Gandhi Street?

For a 1,000 sq.ft plot at the guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Gandhi Street?

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