Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I 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 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 286% rise. However, from 2012 to 2017, there was a decrease to Rs 1,809 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 2,700 per sq.ft in 2023, a rise of 49% from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 2,970 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 324%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which matches the guideline value of Gandhi Street.

• Ganesh Nagar: Rs 3,850 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,650 per sq.ft (2024)
• Gayathri Nagar: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar East Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar North Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar South Street: 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 rate of Rs 2,970 per sq.ft, the guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Hastinapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official documents.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 700 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 324% since then.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gandhi Street?

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

How is stamp duty calculated for properties in Gandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,67,300.