Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Kathirvedu village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I 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 63 per sq.ft, which increased to Rs 90 per sq.ft in 2003, marking a 43% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, representing a 122% increase. Following this, the value surged to Rs 1,000 per sq.ft in 2012, showing a remarkable 400% increase. However, in 2017, the value decreased to Rs 670 per sq.ft, a decline of 33%. The value was then revised to Rs 1,000 per sq.ft in 2023, and it has now reached Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows a substantial increase of 1646% in the guideline value.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Gandhi Street is below this median.

• Ganabathy Nagar (or) Golden Nagar: Rs 1,500 per sq.ft (2024)
• Essaiya Street: Rs 1,100 per sq.ft (2024)
• Erattaimalai Srinivasan Street: Rs 1,300 per sq.ft (2024)
• Elumalai Nagar: Rs 1,300 per sq.ft (2024)
• Green View(Tamil Nadu Officiers Co-Operative Housing Society): Rs 1,600 per sq.ft (2024)
• I.N.T.U.C. Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would then be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total Rs 99,000. 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street 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 Kathirvedu

The guideline value plays a crucial role during property registration in Kathirvedu. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers must ensure that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications during the registration process. This ensures compliance with local regulations and helps in accurate financial planning.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 63 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of 1646% over the years.

What are the other streets in Kathirvedu with their guideline values?

Other streets in Kathirvedu include Ganabathy Nagar at Rs 1,500 per sq.ft, Essaiya Street at Rs 1,100 per sq.ft, and Erattaimalai Srinivasan Street at Rs 1,300 per sq.ft, among others.

What is the stamp duty for a property in Gandhi Street?

The stamp duty for a property in Gandhi Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 77,000.

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

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