Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later revised to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, representing a 7% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that Gandhi Street's 2024 figure is below this median.

• Gandhi Park Street: Rs 1,600 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,00,000. The stamp duty at 7% amounts to Rs 1,12,000, and the registration fee at 2% is Rs 32,000, totaling Rs 1,44,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a crucial role during property registration in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the government receives the appropriate revenue from property transactions.

When a buyer purchases a property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Gandhi Street?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is 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, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 1,12,000.