Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Gandhi Street has changed

The guideline value of Gandhi Street has undergone several revisions over the years. In 2002, the value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,000 per sq.ft in 2007, marking an increase of 418%. The value then changed to Rs 2,000 per sq.ft in 2012, reflecting a decrease of 33%. In 2017, the value rose again to Rs 1,340 per sq.ft, and by 2023, it reached Rs 2,000 per sq.ft, before the latest revision to Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,179%. There are no recorded figures for the revisions in years other than those listed above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, making the guideline value of Gandhi Street below this median.

• Gajalakshmi Street: Rs 2,800 per sq.ft (2024)
• Gayathri Nagar: Rs 2,800 per sq.ft (2024)
• Gayathri Street: Rs 2,800 per sq.ft (2024)
• Giri Street: Rs 2,800 per sq.ft (2024)
• E.P.R.Nagar: Rs 3,900 per sq.ft (2024)
• Gopalakrishnan Gokale Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

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 Ullagaram

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is officially recorded in accordance with the state's regulations.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing a significant overall increase of 1,179% over the years.

What is the median guideline value in Ullagaram?

The median guideline value for streets in Ullagaram is Rs 2,800 per sq.ft, which is higher than the current value of Gandhi Street.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Gandhi Street?

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