Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Konnur village, under the Konnur SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Gandhi Street has changed

The guideline value of Gandhi Street has undergone several revisions since 2002. In 2002, the value was Rs 744 per sq.ft, which increased to Rs 807 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,500 per sq.ft in 2007, and then it jumped to Rs 5,500 per sq.ft in 2012. However, there was a decrease to Rs 3,685 per sq.ft in 2017. The value then increased to Rs 5,500 per sq.ft in 2023, before reaching the current rate of Rs 6,000 per sq.ft in 2024.

Notably, the changes between revisions show a +9% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +267% increase from 2007 to 2012, a +86% increase from 2003 to 2007, and a +8% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +706%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in the village is Rs 3,800 per sq.ft, positioning Gandhi Street's 2024 value above this median.

• Ganesh Nagar & Street: Rs 3,800 per sq.ft (2024)
• Gandhi Nagar: Rs 2,750 per sq.ft (2024)
• G.K.M. Colony 25th Street Sathyavani Muthu Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 26th Street Kennadi Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 27th Street Punitha Sahayamatha Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 28th Street Anantha Balavinayagar Street: Rs 5,500 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 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total amount for these fees Rs 5,40,000. 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 Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process for property transactions in Konnur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 744 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, showing an overall increase of +706% over the years.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles the registration for Gandhi Street?

The Konnur Sub Registrar Office handles the registration for Gandhi Street, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.