Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Chikkarayapuram village, under the Kunrathur SRO, is Rs 1,980 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen significant changes over the years. In 2007, the value was Rs 200 per sq.ft, which increased dramatically to Rs 1,400 per sq.ft by 2012, marking a rise of 600%. However, it then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The value surged again to Rs 1,800 per sq.ft in 2023, reflecting a 92% increase. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with the median value being Rs 1,980 per sq.ft. The guideline value for Gandhi Street matches this median.

• Jothi park': Rs 1,980 per sq.ft (2024)
• Check Post Gandi Road: Rs 1,980 per sq.ft (2024)
• Charles Nagar: Rs 1,980 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 1,980 per sq.ft (2024)
• Balasubramanian Nagar: Rs 1,870 per sq.ft (2024)
• Balaji Nagar: Rs 1,980 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chikkarayapuram, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. Understanding this value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890%.

What is the land classification for Gandhi Street?

The land classification for Gandhi Street is Mixed Special Type - I, which is important for understanding the zoning regulations in the area.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it is responsible for property registrations in this area.