Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam B village, 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 most recent revision in 2024 set the value at Rs 100 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 134 per sq.ft, marking a decrease of 25% from 2017 to 2023. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, comparing the 2017 and 2024 revisions, the guideline value has decreased by 25%. The consistent value of Rs 100 per sq.ft in both 2023 and 2024 indicates stability in the recent revisions, despite the significant drop from the 2017 figure.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that have a 2024 guideline value, ranging from Rs 100 to Rs 6,200 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Gandhi Street's 2024 figure below that median.

• Gangaiyamman Koil Street: Rs 100 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)
• Elims Nagar: 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office covering 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mevaloorkuppam B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions as per the official register. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Street has remained at Rs 100 per sq.ft from 2023 to 2024. However, it decreased from Rs 134 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, marking a 25% drop.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 1,00,000, the stamp duty at 7% would be Rs 7,000.