Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value for Gandhi Street in Nemili village is Rs 210 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 200 per sq.ft. The most recent revision in 2024 established the current value at Rs 210 per sq.ft, reflecting a 5% increase from the previous year.

There are no recorded guideline values for Gandhi Street in the years 2002, 2003, and 2007.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that Gandhi Street's current guideline value is below this median.

• Ganapathy Nagar Part IV: Rs 400 per sq.ft (2024)
• Ganapathy Nagar Colny: Rs 400 per sq.ft (2024)
• Gnanambal Nagar: Rs 300 per sq.ft (2024)
• Gowtham Golden Avenue: Rs 300 per sq.ft (2024)
• Gowthami Nagar (Gowthami Estates): Rs 300 per sq.ft (2024)
• Gragapriya Nagar: Rs 300 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 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, leading to a total of Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more calculations, 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 information.

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

The guideline value is a crucial factor in property transactions in Nemili, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. In such cases, the higher of the two values will be used for calculating the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Gandhi Street?

The current guideline value for Gandhi Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What is the classification of Gandhi Street?

Gandhi Street is classified as Residential Class III Type - I under the guideline value register.

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

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

How is stamp duty calculated for properties in Nemili?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 2,10,000, the stamp duty would be Rs 14,700 at a rate of 7%.