Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Gandhi Street has changed

The guideline value of Gandhi Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a drop of 33%. The value then surged to Rs 4,500 per sq.ft in 2023, which is a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, representing a 9% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value of Gandhi Street.

• Gandhi Street (Pari Nagar): Rs 5,500 per sq.ft (2024)
• Ganesan Street (Parry Nagar): Rs 5,500 per sq.ft (2024)
• Ganga Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,900 per sq.ft (2024)
• Ganapathy Naicken Street: Rs 4,100 per sq.ft (2024)
• Gangai Kondan Salai: Rs 3,300 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Kodambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It ensures that the property is registered at a value that reflects the official rates set by the government, thereby maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is the same as the current value of Gandhi Street.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations for Gandhi Street?

The Ashok Nagar Sub Registrar Office handles property registrations for Gandhi Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.