Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills 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 2003, the value was Rs 171 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was followed by a significant rise to Rs 700 per sq.ft in 2012, but then it decreased to Rs 469 per sq.ft in 2017. The value saw a substantial increase to Rs 700 per sq.ft in 2023 and has now reached Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. The register does not have a figure for Gandhi Street in 2002.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the guideline value of Gandhi Street.

• Gangaiamman Koil Street: Rs 660 per sq.ft (2024)
• Gangaiamman Koil Street (PANNEERVAKKAM COLONY): Rs 385 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 770 per sq.ft (2024)
• G.N.T. Road: Rs 2,750 per sq.ft (2024)
• Eswaran Koil Street Lane: Rs 660 per sq.ft (2024)
• Eswaran 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

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

When a property is sold, the guideline value helps in ensuring that the transaction is recorded accurately and transparently. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What are the stamp duty and registration fees for property in Gandhi Street?

For a property measuring 1,000 sq.ft, the total guideline value is Rs 7,70,000. The stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Gandhi Street?

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

What is the land classification of Gandhi Street?

Gandhi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.