Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Molachoor village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 600 per sq.ft. The 2024 revision maintained this value, showing no change from the previous year.

In contrast, the guideline value for this street was Rs 402 per sq.ft in the 2017 revision, marking a 33% decrease from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, placing Gandhi Street at the median level for 2024.

• Gnanaprakasam Street: Rs 600 per sq.ft (2024)
• Fathima Nagar: Rs 600 per sq.ft (2024)
• Golden Nagar: Rs 605 per sq.ft (2024)
• ETR Avenue: Rs 1,200 per sq.ft (2024)
• Eswar Avenue: Rs 605 per sq.ft (2024)
• Elango Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 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 Molachoor

The guideline value is crucial during property transactions in Molachoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both parties to be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to 2023. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Special Type - III under the current regulations.

Where can I find the registration office for Gandhi Street?

The registration office for Gandhi Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Gandhi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 600 per sq.ft, the total stamp duty would be Rs 42,000.