Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Issa Pallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 233%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The 2023 revision saw a considerable increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which aligns with the 2024 figure for Gandhi Street.

• Ganesan Street: Rs 2,200 per sq.ft (2024)
• Fathima Manzal Street: Rs 2,200 per sq.ft (2024)
• Elumalai Street: Rs 3,300 per sq.ft (2024)
• Easwari Main Road: Rs 3,850 per sq.ft (2024)
• Easwari Main Cross Road: Rs 3,300 per sq.ft (2024)
• G.S.T. Road (PART): Rs 11,000 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Issa Pallavaram

The guideline value is a critical factor in the registration process when buying or selling property in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 267%.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class I Type - II under the Pallavaram SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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, in the Chengalpattu registration zone.