Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street, located in Theerthangiriyampattu village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This street is classified under Industries 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 2017, the value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw a further increase to Rs 770 per sq.ft, which is a 10% rise from the previous year.

From the 2017 revision to the 2024 revision, the overall increase in the guideline value is 64%. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu, there are 24 streets that carry a guideline value for 2024, ranging from Rs 330 to Rs 880 per sq.ft. The median value is Rs 605 per sq.ft, placing Gandhi Street's 2024 figure above that median.

• Gangai Amman Koil Street: Rs 330 per sq.ft (2024)
• Cheran Street: Rs 770 per sq.ft (2024)
• Kamarajar Street: Rs 770 per sq.ft (2024)
• Kannappar Street: Rs 770 per sq.ft (2024)
• Karunanidhi Street: Rs 605 per sq.ft (2024)
• Bajanai Koil Street: Rs 770 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, bringing the total fees together to 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Theerthangiriyampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions regarding their purchases.

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 much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the median guideline value in Theerthangiriyampattu?

The median guideline value in Theerthangiriyampattu is Rs 605 per sq.ft, with Gandhi Street's value being above this median.

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 on properties in Gandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.