Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Nemili_B 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 III Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. The oldest revision available is from 2017, where the value was Rs 134 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded a guideline value of Rs 200 per sq.ft. From 2017 to 2023, the increase was 49%. The guideline value did not change from 2023 to 2024, maintaining the rate of Rs 200 per sq.ft, resulting in a 0% change during this period. Overall, from 2017 to 2024, the guideline value increased by 49%.

For the years 2002, 2003, 2007, and 2012, the register has no figure for Gandhi Street. Therefore, there are no available guideline values for these revisions.

Guideline values in Nemili_B

In Nemili_B, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, placing Gandhi Street's 2024 figure below this median.

• Ganapathy Nagar Part IV: Rs 400 per sq.ft (2024)
• Ganapathy Nagar Colny: Rs 400 per sq.ft (2024)
• Gnammal Nagar: Rs 300 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)

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, charged at 7%, would be Rs 14,000, while the registration fee, at 2%, would be Rs 4,000. Together, the total cost for stamp duty and registration fee would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Nemili_B

The guideline value plays a crucial role in the registration process when buying or selling property in Nemili_B. It is used to determine the applicable stamp duty and registration fees, ensuring that both the buyer and seller comply with legal requirements during the transaction.

When registering a property, the guideline value is considered as a baseline for calculating taxes and fees. This means that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency and fairness in property transactions.

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 for Gandhi Street was Rs 134 per sq.ft in 2017, increased to Rs 200 per sq.ft in 2023, and remained at Rs 200 per sq.ft in 2024. Overall, there has been a 49% increase from 2017 to 2024.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class III Type - I under the Sriperumpudur SRO.

What are the stamp duty and registration fees for properties on Gandhi Street?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

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. You can find more information through the provided link.