Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Nandhivaram village is Rs 1,500 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In the 2007 revision, the value was Rs 328 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a 357% rise. However, in the 2017 revision, the value adjusted to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The 2023 revision maintained the value at Rs 1,500 per sq.ft, and this value remains unchanged in the 2024 revision, showing a 0% change.

It is important to note that the register has no figures for Gandhi Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 357%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current value of Gandhi Street.

• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Gandhi Nagar 1 to 3 Streets: Rs 1,500 per sq.ft (2024)
• Ganapathy Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Ganapathy Nagar: Rs 2,000 per sq.ft (2024)
• Ezhil Avenue: Rs 1,000 per sq.ft (2024)
• Govindarajpuram: 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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees together to Rs 1,35,000. 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 covering Gandhi Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value is a crucial factor when buying or selling property in Nandhivaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Street has changed several times, with the most recent revision in 2024 maintaining the value at Rs 1,500 per sq.ft, which was also the value in 2023. The value increased from Rs 328 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, and then adjusted to Rs 1,005 per sq.ft in 2017.

What are the other streets in Nandhivaram with their guideline values?

Other streets in Nandhivaram include Ganesh Nagar at Rs 1,000 per sq.ft, Gandhi Nagar 1 to 3 Streets at Rs 1,500 per sq.ft, and Ganapathy Nagar at Rs 2,000 per sq.ft, among others. The guideline values for these streets vary, with the median being Rs 1,500 per sq.ft.

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

The stamp duty for a property valued at Rs 15,00,000 in Gandhi Street would be Rs 1,05,000, and the registration fee would be Rs 30,000, totaling Rs 1,35,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gandhi Street located?

The Sub Registrar Office for Gandhi Street is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. This office handles all registrations for properties in the area.