Guideline Value for Gandhi Street

Gandhi Street guideline value

The current guideline value of Gandhi Street in Vada Mangalam village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, by the 2023 revision, the value increased significantly to Rs 200 per sq.ft, reflecting a 49% rise from the 2017 figure. The 2024 revision maintained this value at Rs 200 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for Gandhi Street in the revisions from 2002, 2003, and 2007. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 200 per sq.ft.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Gandhi Street is below this median.

• Ettiyamman Koil Street: Rs 200 per sq.ft (2024)
• Indhira Nagar: Rs 350 per sq.ft (2024)
• Iswarya Lakshmi Nagar: Rs 350 per sq.ft (2024)
• Iswarya Nagar: Rs 350 per sq.ft (2024)
• Kakkan Street: Rs 200 per sq.ft (2024)
• Bharathiyar Street: Rs 200 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 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 Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vada Mangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value and the sale price. This ensures that the registration process is transparent and standardized across different properties.

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 remained at Rs 200 per sq.ft since 2012, with a drop to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of Gandhi Street?

Gandhi Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in 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.

Which office handles registrations for Gandhi Street?

The Sunguvarchattram Sub Registrar Office handles registrations for Gandhi Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.