Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street, located in Thirumangalam village under the AnnaNagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II 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 2007, the value was Rs 1,300 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a growth of 131%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and subsequently rose to the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Notably, the register does not have figures for Gandhi Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 154%.

Guideline values in Thirumangalam

In Thirumangalam village, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value among these streets is Rs 11,500 per sq.ft, indicating that Gandhi Street's current value is below this median.

• G Block 10th Main Road: Rs 15,900 per sq.ft (2024)
• G Block west 13th Street: Rs 11,500 per sq.ft (2024)
• G Block west 14th Street: Rs 11,500 per sq.ft (2024)
• G Block west 15th Street: Rs 11,500 per sq.ft (2024)
• G Block west 16th Street: Rs 11,500 per sq.ft (2024)
• G Block west 17th Street: Rs 11,500 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 3,300 per sq.ft, the total 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 the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thirumangalam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. This value is updated periodically, reflecting changes in the real estate market and local regulations.

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?

Over the years, the guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 154%.

What is the median guideline value in Thirumangalam?

The median guideline value in Thirumangalam is Rs 11,500 per sq.ft, which is higher than the current value of Gandhi Street.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total fees amount to Rs 2,97,000.

Where is the Sub Registrar Office for Gandhi Street located?

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