Guideline Value for James Street / Gandhi Nagar

James Street / Gandhi Nagar guideline value

The current guideline value of James Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of James Street / Gandhi Nagar has changed

The guideline value has evolved significantly over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value saw a substantial jump to Rs 360 per sq.ft in 2007, representing a 69% increase. By 2017, the guideline value further escalated to Rs 1,507 per sq.ft, a remarkable 319% increase from the previous revision. The register has no figure for this street in 2012.

In 2023, the guideline value was Rs 2,250 per sq.ft, reflecting a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,475 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1216%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with the 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for James Street / Gandhi Nagar above this median.

• James Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• James Street / Shivashankaran Nagar: Rs 2,475 per sq.ft (2024)
• Janaki Raman Street: Rs 1,980 per sq.ft (2024)
• Janakiraman Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Jagajeevanram Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Jagajeevanram Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in James Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost to Rs 2,22,750. 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 James Street / Gandhi Nagar?

The Sub Registrar Office covering James Street / Gandhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is revised periodically to reflect changes in the real estate market.

When a property is sold, the guideline value serves as a benchmark for calculating the taxes due at registration. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of James Street / Gandhi Nagar?

The current guideline value of James Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a significant increase from Rs 188 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 1216% over this period.

What is the land classification for James Street / Gandhi Nagar?

James Street / Gandhi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 24,75,000 would incur a stamp duty of Rs 1,73,250 at a rate of 7%.