Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Kavulbazaar village under the Pammal SRO is Rs 825 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. The 2017 revision set the value at Rs 502 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision further raised the guideline value to Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kavulbazaar

In Kavulbazaar, there are 44 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft, with the median value being Rs 825 per sq.ft. Gandhi Street's 2024 figure aligns with this median.

• Gandhi Salai: Rs 825 per sq.ft (2024)
• Garugambakkam Salai: Rs 825 per sq.ft (2024)
• Duraimani Salai: Rs 825 per sq.ft (2024)
• Delhi Babu Street: Rs 825 per sq.ft (2024)
• Kalaignar Salai: Rs 825 per sq.ft (2024)
• Kalaignar Street: Rs 825 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 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. 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 that covers Gandhi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Kavulbazaar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in 2024. This represents a 64% increase overall from 2017 to 2024.

What are the other streets in Kavulbazaar with the same guideline value?

Other streets in Kavulbazaar that share the same guideline value of Rs 825 per sq.ft include Gandhi Salai, Garugambakkam Salai, Duraimani Salai, Delhi Babu Street, Kalaignar Salai, and Kalaignar Street.

What fees are associated with buying property in Gandhi Street?

When purchasing property in Gandhi Street, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Gandhi Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the appropriate link.