Guideline Value for Gandhi highways extention

Gandhi highways extention guideline value

The current guideline value for Gandhi highways extention in Oragadam village under the Ambattur SRO is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Gandhi highways extention has changed

The guideline value for Gandhi highways extention has seen several revisions over the years. In 2003, the value was Rs 162 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following that, the value rose significantly to Rs 1,800 per sq.ft in 2012, but then dropped to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1073%. The register has no figure for 2002 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Gandhi highways extention is below this median.

• Gandhi highways: Rs 2,200 per sq.ft (2024)
• Gandhi Main Road (1st Ward): Rs 2,200 per sq.ft (2024)
• Ganapathi Street Ram Nagar: Rs 2,400 per sq.ft (2024)
• Ganapathi Street(A.K.A. Nagar): Rs 1,600 per sq.ft (2024)
• Ganapathi Nagar Mugunthan Street: Rs 1,400 per sq.ft (2024)
• Ganapathi Nagar: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi highways extention

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi highways extention?

The Sub Registrar Office that covers Gandhi highways extention is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value may influence the overall costs involved in the property transfer process.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable taxes. It is important for both parties to understand that the guideline value is set by the government and is subject to periodic revisions, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value for Gandhi highways extention?

The current guideline value for Gandhi highways extention is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 162 per sq.ft in 2003 to Rs 1,900 per sq.ft in 2024, marking a total increase of 1073% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office should I visit for property transactions in Gandhi highways extention?

The Ambattur Sub Registrar Office covers Gandhi highways extention, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Gandhi highways extention?

The land classification for Gandhi highways extention is Residential Class I Type - I, indicating its suitability for residential development.