Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Thandalkazhani village, under the Redhills SRO, is Rs 1,210 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

The guideline value for Gandhi Street has seen several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased to Rs 1,100 per sq.ft in 2012. However, it dropped to Rs 737 per sq.ft in 2017, before rising significantly to Rs 1,100 per sq.ft again in 2023. The latest revision in 2024 has set the value at Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 203%. The revisions for 2002 and 2003 show no figures for this street, indicating a lack of recorded values during those years.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 2,750 per sq.ft. The median guideline value in the village is Rs 880 per sq.ft, placing Gandhi Street's 2024 figure above this median.

• Gnt Road: Rs 2,750 per sq.ft (2024)
• Gomathi Nagar In Sivaram city: Rs 2,750 per sq.ft (2024)
• Dr. M. Varadaharasanar Street: Rs 880 per sq.ft (2024)
• Chandrabose Nagar: Rs 880 per sq.ft (2024)
• Bye Pass Road: Rs 2,750 per sq.ft (2024)
• Kamarajar Street: Rs 880 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, leading to a total of Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office covering Gandhi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thandalkazhani. 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 registered, the guideline value is considered to ensure that the appropriate taxes are levied. This value helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 203% over the years.

What are the stamp duty rates for properties on Gandhi Street?

The stamp duty for properties on Gandhi Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Gandhi Street located?

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

What is the land classification for Gandhi Street?

Gandhi Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.