Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO and 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 1,100 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023 and is now Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 200%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft as of 2024. The median value for these streets is Rs 4,400 per sq.ft, placing Gandhi Street's 2024 figure below that median.

• Ganesh Nagar Extension (near Bus Stand Kaliamman Koil Street): Rs 4,400 per sq.ft (2024)
• G Block 2nd Street 10th Main Road: Rs 15,900 per sq.ft (2024)
• E.V.R. Periyar Street: Rs 3,300 per sq.ft (2024)
• Engineer Sampath Garden: Rs 3,300 per sq.ft (2024)
• Elangovadikal Street: Rs 3,300 per sq.ft (2024)
• Govind Garden: Rs 3,300 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 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Gandhi Street?

The AnnaNagar Sub Registrar Office covers Gandhi Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gandhi Street?

Gandhi Street falls under the Residential Class I Type - III land classification, as per the guidelines set by the authorities.