Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Aangadu village is Rs 275 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, it then decreased to Rs 167 per sq.ft in 2017. The value saw a substantial increase to Rs 250 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 275 per sq.ft, reflecting a 10% increase from the previous year.

Between the revisions, the most notable changes include a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a remarkable 50% increase from 2017 to 2023. Overall, the guideline value has risen by 175% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Aangadu

In Aangadu, there are 23 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,200 per sq.ft. The median value is Rs 275 per sq.ft, which is equal to the guideline value of Gandhi Street.

• Bharathi Nagar: Rs 220 per sq.ft (2024)
• Annai Rajammal Nagar: Rs 275 per sq.ft (2024)
• Marutham Royal Park Phase-1: Rs 1,200 per sq.ft (2024)
• Marutham Royal Park Phase-2: Rs 1,200 per sq.ft (2024)
• Marutham Royal Park Phase-4: Rs 1,200 per sq.ft (2024)
• Muthumariamman Koil 2nd Street: Rs 275 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 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total fees to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Aangadu. It is used to calculate the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value is compared with the sale price, and the higher amount is used to determine 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 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 275 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification of Gandhi Street?

Gandhi Street is classified as Residential Class I Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is 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. It is typically charged at a rate of 7%, along with a registration fee of 2%.