Guideline Value for Gandhi highways

Gandhi highways guideline value

The current guideline value of Gandhi highways in Oragadam village, under the Ambattur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Gandhi highways has changed

The guideline value for Gandhi highways has seen several revisions over the years. Starting from Rs 179 per sq.ft in 2003, the value increased to Rs 500 per sq.ft in 2007, marking a significant rise of 179%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a 300% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,129%. The register has no figure for this street in 2002.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Gandhi highways. Below are other streets in Oragadam:

• Gandhi highways extention: Rs 1,900 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees amount to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi highways?

The Sub Registrar Office covering Gandhi highways 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 details.

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

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

When purchasing property, the guideline value is assessed to ensure that the transaction is recorded accurately. It serves as a benchmark for the value of the property, helping to establish a fair basis for taxation and registration fees.

Frequently asked questions

What is the current guideline value of Gandhi highways?

The current guideline value of Gandhi highways is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 179 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,129% over this period.

What is the classification of land in Gandhi highways?

The land classification for Gandhi highways is Residential Special Type - II, which influences the guideline value set for this area.

What are the stamp duty and registration fees for properties in Gandhi highways?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Gandhi highways located?

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