Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Padappai village, under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 750 per sq.ft. This value remained unchanged until the next revision in 2017, where it dropped to Rs 502 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 750 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 830 per sq.ft, which is an increase of 11% from the previous year.

It is important to note that there are no recorded figures for Gandhi Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen an increase of 11%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which aligns with the current guideline value of Gandhi Street.

• Gandhi Nagar: Rs 830 per sq.ft (2024)
• Gandhiji Colony: Rs 660 per sq.ft (2024)
• Ganapathy Nagar: Rs 830 per sq.ft (2024)
• Gnanambal Road: Rs 3,300 per sq.ft (2024)
• Eswaran Koil Street: Rs 660 per sq.ft (2024)
• Elliamman Koil Street: Rs 660 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty is charged at 7%, which totals Rs 58,100, while the registration fee is 2%, amounting to Rs 16,600. Together, the total cost for stamp duty and registration fee is Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Street has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What are the other streets in Padappai and their guideline values?

Other streets in Padappai include Gandhi Nagar and Ganapathy Nagar, both at Rs 830 per sq.ft, Gandhiji Colony at Rs 660 per sq.ft, and Gnanambal Road at Rs 3,300 per sq.ft.

Where is the Padappai Sub Registrar Office located?

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

How is stamp duty calculated in Padappai?

Stamp duty in Padappai is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.