Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Kerugambakkam village, under the Pammal SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - II land classification.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,005 per sq.ft. This value increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Gandhi Street's 2024 figure is below this median.

• Gangaiamman Koil Street: Rs 1,980 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Friends Avenue: Rs 3,450 per sq.ft (2024)
• E.V.R Periyar Street: Rs 1,980 per sq.ft (2024)
• Eswari Garden: Rs 1,980 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,980 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for assessing the value of the property for taxation purposes, including stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value, as it can influence the overall transaction costs. The registration office uses this value to determine the applicable fees, ensuring that the property is registered at a fair and standardized rate.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets with guideline values in Kerugambakkam?

Other streets in Kerugambakkam include Gangaiamman Koil Street and Gayathri Nagar, both at Rs 1,980 per sq.ft, and Friends Avenue at Rs 3,450 per sq.ft, among others.

Where is the Sub Registrar Office for Gandhi Street located?

The Sub Registrar Office for Gandhi Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.