Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Malaipattu village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class I 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 earliest available figure is from 2012, which was Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, in the subsequent revisions, the value increased significantly, reaching Rs 200 per sq.ft again in both 2023 and 2024, indicating a 49% increase from 2017 to 2023. Overall, there has been no change in the guideline value from 2012 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for Gandhi Street, as the register does not contain any data for these years.

Guideline values in Malaipattu

In Malaipattu village, there are 36 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,181 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the current guideline value of Gandhi Street. Below are the guideline values for other streets in Malaipattu:

• Ganesh Nagar: Rs 200 per sq.ft (2024)
• Garden City: Rs 441 per sq.ft (2024)
• Farm Scapes Layout: Rs 200 per sq.ft (2024)
• Golden City: Rs 441 per sq.ft (2024)
• Chakravarthy Avenue: Rs 441 per sq.ft (2024)
• Bhavani Street: Rs 150 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, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Malaipattu. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 has seen several changes, with the most recent revisions being Rs 200 per sq.ft in both 2023 and 2024, and a decrease to Rs 134 per sq.ft in 2017.

What are the other streets in Malaipattu with their guideline values?

Other streets in Malaipattu include Ganesh Nagar and Farm Scapes Layout, both at Rs 200 per sq.ft, while Garden City, Golden City, and Chakravarthy Avenue are at Rs 441 per sq.ft.

What fees are associated with buying property on Gandhi Street?

When buying property on Gandhi Street, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% 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 Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.