Guideline Value for KASTHURIBAI GANDHI NAGAR

Kasthuribai Gandhi Nagar guideline value

The current guideline value of Kasthuribai Gandhi Nagar is Rs 4,620 per sq.ft, effective from 1 July 2024. This area is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kasthuribai Gandhi Nagar has changed

The guideline value for Kasthuribai Gandhi Nagar has undergone several revisions over the years. In 2002, the value was Rs 350 per sq.ft, which increased to Rs 404 per sq.ft in 2003, marking a 15% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, which was a 73% increase. Following this, the value surged by 500% to Rs 4,200 per sq.ft in 2012. However, it dropped to Rs 2,814 per sq.ft in 2017, representing a decline of 33%. The value then increased to Rs 4,200 per sq.ft in 2023, and finally reached the current rate of Rs 4,620 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1220%. Notably, there are no figures available for the years between these revisions for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is equal to the guideline value of Kasthuribai Gandhi Nagar.

• Kattabomman Street: Rs 4,620 per sq.ft (2024)
• Karunai Street: Rs 3,080 per sq.ft (2024)
• Kaveri Street: Rs 3,080 per sq.ft (2024)
• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Kannan Street: Rs 3,520 per sq.ft (2024)
• Kannagi Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kasthuribai Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, bringing the total cost for these fees to Rs 4,15,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kasthuribai Gandhi Nagar?

The Sub Registrar Office that covers Kasthuribai Gandhi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price and the guideline value are compared. The higher of the two will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kasthuribai Gandhi Nagar?

The current guideline value of Kasthuribai Gandhi Nagar is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen multiple revisions, increasing from Rs 350 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, which is an overall increase of 1220%.

What is the land classification for Kasthuribai Gandhi Nagar?

Kasthuribai Gandhi Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kasthuribai Gandhi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kasthuribai Gandhi Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 46,20,000, the stamp duty would be Rs 3,23,400 at 7%.