Guideline Value for MAHATMA GANDHI STREET

Mahatma Gandhi Street guideline value

The current guideline value of Mahatma Gandhi Street in Chinnasekkadu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Mahatma Gandhi Street has changed

The guideline value for Mahatma Gandhi Street has seen several revisions over the years. In 2002, the guideline value was Rs 90 per sq.ft, which increased to Rs 161 per sq.ft in 2003, marking a change of +79%. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, reflecting a +211% increase. The value then continued to rise to Rs 1,200 per sq.ft in 2012, a change of +140%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, showing a decline of -33%. The value then increased again to Rs 1,200 per sq.ft in 2023, with a +49% change, and currently stands at Rs 1,300 per sq.ft in 2024, reflecting an 8% increase from the previous year.

There are no figures available for the years not mentioned in the register for Mahatma Gandhi Street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Mahatma Gandhi Street's 2024 guideline value of Rs 1,300 per sq.ft is above this median.

• Manickam Street / Manicka Naickar Street: Rs 1,001 per sq.ft (2024)
• Manicka Vasagar Street: Rs 1,000 per sq.ft (2024)
• Lakshmi Nagar / A.S.P. Nagar: Rs 1,001 per sq.ft (2024)
• Kumari Anandan Street: Rs 1,300 per sq.ft (2024)
• Kumaran Street: Rs 1,001 per sq.ft (2024)
• Krishnan Street / Krishnan Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mahatma Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mahatma Gandhi Street?

The Mahatma Gandhi Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chinnasekkadu. It serves as a reference point for the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mahatma Gandhi Street?

The current guideline value of Mahatma Gandhi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 90 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including increases and decreases.

What is the stamp duty rate for properties in Mahatma Gandhi Street?

The stamp duty rate for properties in Mahatma Gandhi Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Chinnasekkadu?

The median guideline value for streets in Chinnasekkadu is Rs 1,100 per sq.ft, with Mahatma Gandhi Street's value being above this median at Rs 1,300 per sq.ft.