Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Orakadu & Kiruthalapuram village, under the Redhills SRO, is Rs 385 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Gandhi Street has changed

Over the years, the guideline value of Gandhi Street has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 350 per sq.ft in 2012, marking a 17% rise. However, the value decreased by 33% to Rs 234 per sq.ft in the 2017 revision. The subsequent revision in 2023 raised the value to Rs 350 per sq.ft, and the latest revision in 2024 has established it at Rs 385 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from the 2017 revision to the 2023 revision, there was a significant increase of 50%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 28%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 900 per sq.ft. The median value is Rs 385 per sq.ft, which is equal to the guideline value of Gandhi Street.

• Gomathiamman Nagar Anex- XI: Rs 275 per sq.ft (2024)
• Divine City: Rs 900 per sq.ft (2024)
• Infinity Industrial And Logistics Park: Rs 351 per sq.ft (2024)
• Kakkanji Street: Rs 275 per sq.ft (2024)
• Kalaignar Street: Rs 385 per sq.ft (2024)
• Bharathi Nagar: Rs 385 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 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total cost for these fees to Rs 34,650. It is important to note that the stamp 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 information.

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 details.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value plays a crucial role in property transactions in Orakadu & Kiruthalapuram. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Accurate knowledge of these values can help in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 385 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 385 per sq.ft in 2024, reflecting an overall increase of 28% over this period.

What is the stamp duty for property in Gandhi Street?

The stamp duty for property in Gandhi Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 3,85,000, the stamp duty would be Rs 26,950.

Where is the Sub Registrar Office for Gandhi Street located?

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

What other streets have guideline values in Orakadu & Kiruthalapuram?

Other streets in Orakadu & Kiruthalapuram include Gomathiamman Nagar Anex- XI at Rs 275 per sq.ft, Divine City at Rs 900 per sq.ft, and several others, with the median value being Rs 385 per sq.ft.