Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Gooduvancheri village is Rs 2,001 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023. The previous revision in 2017 listed the value at Rs 1,340 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has also risen by 49%. The change from 2023 to 2024 is negligible, showing a 0% increase.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Gandhi Street's 2024 figure above this median.

• Ganesh Nagar: Rs 1,200 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,001 per sq.ft (2024)
• Ganapathypuram: Rs 2,001 per sq.ft (2024)
• Ganapathi Nagar (S.No 38/5): Rs 1,500 per sq.ft (2024)
• Friends Avenue: Rs 1,200 per sq.ft (2024)
• E.V.K. Sampath Street: Rs 1,500 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 2,001 per sq.ft, the total guideline value amounts to Rs 20,01,000. The stamp duty at 7% would be Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, making the total cost Rs 1,80,090. It is important to note that the duty is charged on the higher of the guideline value and 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Gooduvancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, marking a 49% increase overall. The value was Rs 2,000 per sq.ft in 2023, showing no change from the previous year.

What is the land classification of Gandhi Street?

Gandhi Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for Gandhi Street?

The registration office for Gandhi Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration, which affects the stamp duty and registration fees payable. Buyers and sellers must consider this value to comply with legal requirements during property transactions.