Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Mudichur village, under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. Starting from the 2012 revision, the value was set at Rs 1,100 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 737 per sq.ft, marking a decline of 33%. Following this, the 2023 revision saw a significant increase to Rs 1,100 per sq.ft, and the latest 2024 revision raised it further to Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for Gandhi Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Gandhi Street's 2024 figure below this median. The following are the guideline values for other streets in Mudichur:

• Gandhi Nagar: Rs 1,210 per sq.ft (2024)
• Gajalakshmi Street: Rs 1,210 per sq.ft (2024)
• Gnanabandidhar Nagar: Rs 2,200 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)
• Erikkarai Street: Rs 3,630 per sq.ft (2024)
• Elumalai Nagar: Rs 2,200 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, leading to a total of Rs 1,08,900. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Gandhi Street?

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

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Gandhi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 84,700.