Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Cantonment Pallavaram village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Street has changed

The guideline value of Gandhi Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 111 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, marking a change of +350%. The value then rose dramatically to Rs 2,500 per sq.ft in 2012, reflecting an increase of +400%. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of -33%. The value then saw a substantial rise to Rs 2,500 per sq.ft in 2023, an increase of +49%. The current guideline value of Rs 2,700 per sq.ft in 2024 represents an increase of +8% from the previous year.

It is important to note that the register does not have a figure for Gandhi Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by +2332%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram consists of 81 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Gandhi Street.

• Five Huts: Rs 2,200 per sq.ft (2024)
• G.S.T.Main Road: Rs 11,000 per sq.ft (2024)
• Hospital Street: Rs 2,700 per sq.ft (2024)
• Hussain Saheb St: Rs 2,700 per sq.ft (2024)
• Indragandhi Road: Rs 5,500 per sq.ft (2024)
• Depot Lane: Rs 3,850 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Cantonment Pallavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that the guideline value serves as a benchmark for the minimum value of the property for registration purposes.

When a property is sold, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the 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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 111 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +2332%.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,43,000, which includes a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

Which Sub Registrar Office covers Gandhi Street?

The Pallavaram Sub Registrar Office covers Gandhi Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class II Type - I, indicating its use for residential purposes within the Pallavaram SRO.