Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Thiruneermalai village is Rs 2,420 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification. The street is registered under the Pammal Sub Registrar Office (SRO).

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen significant changes over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 312 per sq.ft in 2003, marking a 68% rise. Following this, the value rose to Rs 350 per sq.ft in 2007, a 12% increase, and then saw a dramatic jump to Rs 1,474 per sq.ft in 2017, reflecting a 321% increase. The 2023 revision set the value at Rs 2,200 per sq.ft, a 49% rise from the previous figure.

The most recent revision in 2024 has established the guideline value at Rs 2,420 per sq.ft, a 10% increase from the 2023 revision. It is important to note that the register has no figure for Gandhi Street in 2012.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, with figures ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value among these streets is Rs 2,420 per sq.ft, which is equal to the current guideline value for Gandhi Street.

• Gandhi Cross Street: Rs 2,420 per sq.ft (2024)
• Ganga Street: Rs 2,200 per sq.ft (2024)
• Errati Malai Srinivasan Street/ Thirumangaialwarpu: Rs 1,320 per sq.ft (2024)
• East Mada Veethi: Rs 2,200 per sq.ft (2024)
• East Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Durga Nagar Vinoba Street: Rs 2,420 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 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the 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 Thiruneermalai

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruneermalai. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Additionally, the guideline value is essential for assessing the value of the property for various legal and financial purposes. It helps in establishing a baseline for transactions and ensures that all parties involved are aware of the official valuation of the property.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 186 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 1201% over the years.

What is the land classification of Gandhi Street?

Gandhi Street falls under the Residential Class I Type - I land classification.

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

The Sub Registrar Office for Gandhi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at a rate of 7%.