Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Perungalathur village, under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2012 revision, marking a 500% increase. However, in the 2017 revision, the value dropped to Rs 1,206 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,800 per sq.ft in the 2023 revision, and most recently, it increased to Rs 1,980 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Gandhi Street in the revisions for the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 560%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Gandhi Street is below this median.

• Gandhi Road: Rs 2,310 per sq.ft (2024)
• Ganesh Nagar: Rs 2,310 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,960 per sq.ft (2024)
• Gangadharan Theru: Rs 1,650 per sq.ft (2024)
• Gandhi Nagar: Rs 3,960 per sq.ft (2024)
• Ganapathy Road: Rs 2,640 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 to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, 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 details.

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

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

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

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 from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% across the revisions.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include Gandhi Road and Ganesh Nagar at Rs 2,310 per sq.ft, Gandhi Nagar Extension and Gandhi Nagar at Rs 3,960 per sq.ft, Gangadharan Theru at Rs 1,650 per sq.ft, and Ganapathy Road at Rs 2,640 per sq.ft.

Where is the Sub Registrar Office for Gandhi Street located?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty would be calculated accordingly.