Guideline Value for Gandhi street (Iyappan nagar)

Gandhi street (Iyappan nagar) guideline value

The current guideline value of Gandhi street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gandhi street (Iyappan nagar) has changed

The guideline value for Gandhi street (Iyappan nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it then decreased to Rs 1,072 per sq.ft in 2017. The value rose again to Rs 1,600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 300%; however, this was followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, there was a 6% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, which means that Gandhi street (Iyappan nagar) is above the median value.

• Ganesh Nagar: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 1st street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 1st street (Ganesh nagar): Rs 1,300 per sq.ft (2024)
• Ganesh nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 2nd street (Ganesh nagar): Rs 1,300 per sq.ft (2024)
• Ganesh nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi street (Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total charges Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi street (Iyappan nagar)?

The Sub Registrar Office that covers Gandhi street (Iyappan nagar) 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 Ayappakkam

The guideline value is a critical factor when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value of the property for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the buyer will still be required to pay stamp duty based on the guideline value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gandhi street (Iyappan nagar)?

The current guideline value of Gandhi street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What are the guideline values for other streets in Ayappakkam?

Other streets in Ayappakkam have a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with the median being Rs 1,300 per sq.ft.

What are the stamp duty and registration fees for property in Gandhi street (Iyappan nagar)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,53,000, based on the guideline value of Rs 17,00,000.

Which Sub Registrar Office covers Gandhi street (Iyappan nagar)?

The Ambattur Sub Registrar Office covers Gandhi street (Iyappan nagar) and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.