Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Periyapanancheri village, under the Pammal SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Commercial Class I Type - I.

How the guideline value of Gandhi Street has changed

The guideline value of Gandhi Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Gandhi Street's 2024 figure above this median.

• Gajendiran Street: Rs 1,320 per sq.ft (2024)
• Golden Avenue: Rs 1,320 per sq.ft (2024)
• Gopal Street: Rs 1,650 per sq.ft (2024)
• Govindaraj Street: Rs 990 per sq.ft (2024)
• Govinthammal Street: Rs 990 per sq.ft (2024)
• G.T.Krishnan Avenue Annexe: Rs 1,650 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

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, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Periyapanancheri. It is the basis for calculating the stamp duty and registration fees, which are mandatory costs incurred during the buying or selling of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. Buyers and sellers must 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a 64% overall increase over the years.

What are the other streets in Periyapanancheri with their guideline values?

Other streets in Periyapanancheri include Gajendiran Street and Golden Avenue at Rs 1,320 per sq.ft, Gopal Street at Rs 1,650 per sq.ft, and Govindaraj and Govinthammal Streets at Rs 990 per sq.ft.

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.

How is the stamp duty calculated for properties in Gandhi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.