Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Mevaloorkuppam village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

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 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a 33% drop. The value further declined by 25% in the 2023 revision, bringing it down to Rs 100 per sq.ft. However, in the 2024 revision, the guideline value saw a significant increase of 100%, rising to Rs 200 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Gandhi Street's 2024 guideline value is below this median.

• Gandhi Nagar: Rs 1,344 per sq.ft (2024)
• Gangaiyamman Koil Street: Rs 200 per sq.ft (2024)
• Golden Castle: Rs 400 per sq.ft (2024)
• Golden Growvilla: Rs 400 per sq.ft (2024)
• Green City: Rs 400 per sq.ft (2024)
• Eden Garden: Rs 500 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mevaloorkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it influences the overall costs involved in the transaction, including taxes and fees. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of 100% from Rs 100 per sq.ft in 2023 to Rs 200 per sq.ft in 2024. The value previously decreased from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017.

What are the guideline values of other streets in Mevaloorkuppam?

Other streets in Mevaloorkuppam have varying guideline values, with rates ranging from Rs 200 to Rs 2,400 per sq.ft. For instance, Gandhi Nagar has a guideline value of Rs 1,344 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Gandhi Street?

The stamp duty for property in Gandhi Street is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 18,000.

Which office handles property registrations for Gandhi Street?

The Sriperumpudur Sub Registrar Office handles property registrations for Gandhi Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.