Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Porur village, under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

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 180 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking a significant rise of 178%. By 2007, the value further increased to Rs 750 per sq.ft, a change of 50%. The 2012 revision saw the value rise to Rs 3,200 per sq.ft, reflecting a substantial increase of 327% from the previous figure. However, in 2017, the value dropped to Rs 2,144 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,200 per sq.ft, and the latest revision in 2024 set it at Rs 3,520 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,856%, showcasing the fluctuations over the years. The register has no figure for the years not mentioned in the revisions.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values in 2024 ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, indicating that Gandhi Street's 2024 figure is below that median.

• Ganesh Avenue 10th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 1st Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 2nd Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 3rd Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Ganesh Avenue 5th Street: Rs 3,520 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 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty, charged at 7%, would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, resulting in a total of Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with property transactions. It is important for buyers and sellers to be aware of these values to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Gandhi Street?

The land classification for Gandhi Street is Residential Special Type - II.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Gandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 35,20,000, leading to a stamp duty of Rs 2,46,400.