Guideline Value for MAHATMA GANDHI ROAD

Mahatma Gandhi Road guideline value

The current guideline value of Mahatma Gandhi Road in Thandurai village, under the Avadi SRO, is Rs 988 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Mahatma Gandhi Road has changed

The guideline value for Mahatma Gandhi Road has seen several revisions over the years. Starting from Rs 158 per sq.ft in 2002, it increased to Rs 181 per sq.ft in 2003, marking a rise of 15%. The value then jumped significantly to Rs 478 per sq.ft in 2007, reflecting a change of 164%. Following this, the value was revised to Rs 900 per sq.ft in 2012, which was a decrease of 33% from the previous figure. In 2017, the guideline value increased to Rs 603 per sq.ft, demonstrating a growth of 49% over the 2012 revision. The 2023 revision set the value at Rs 900 per sq.ft, and the latest revision in 2024 has raised it to Rs 988 per sq.ft, a 10% increase from the previous year.

There are no figures available for revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 525%.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO, with the 2024 guideline values ranging from Rs 800 to Rs 2,640 per sq.ft. The median value is Rs 988 per sq.ft, which is equal to the guideline value of Mahatma Gandhi Road.

• Mandaveli St: Rs 1,300 per sq.ft (2024)
• Mangaiyar Thilagam Nagar: Rs 989 per sq.ft (2024)
• Mangulam: Rs 800 per sq.ft (2024)
• Madavi St Kakkanji Nagar: Rs 800 per sq.ft (2024)
• Mariyamman Koil St (Bakthavachalm Nagar): Rs 988 per sq.ft (2024)
• Mariyamman Koil Street (Back Side): Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Mahatma Gandhi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value amounts to Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, and the registration fee at 2% would be Rs 19,760, totaling Rs 88,920. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mahatma Gandhi Road?

The Mahatma Gandhi Road falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Mahatma Gandhi Road?

The current guideline value of Mahatma Gandhi Road is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 158 per sq.ft in 2002 to Rs 988 per sq.ft in 2024, reflecting an overall increase of 525% over this period.

What is the land classification for Mahatma Gandhi Road?

Mahatma Gandhi Road is classified as Residential Class II Type - I, which indicates its designation for residential use.

What are the stamp duty and registration fees for a property on Mahatma Gandhi Road?

For a property valued at Rs 9,88,000, the stamp duty would be Rs 69,160 and the registration fee would be Rs 19,760, totaling Rs 88,920.

Which office handles the registration for Mahatma Gandhi Road?

The registration for Mahatma Gandhi Road is handled by the Avadi Sub Registrar Office, located in Thandurai Village, Avadi Taluk, Tiruvallur District.