Guideline Value for Mahatama Gandhi Street / Nagalkeni

Mahatama Gandhi Street / Nagalkeni guideline value

The current guideline value for Mahatama Gandhi Street / Nagalkeni is Rs 1,980 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 II Type - II.

How the guideline value of Mahatama Gandhi Street / Nagalkeni has changed

The guideline value for Mahatama Gandhi Street / Nagalkeni has seen significant changes over the years. In 2002, the value was Rs 187 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a 13% rise. The value further climbed to Rs 570 per sq.ft in 2007, reflecting a 169% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, a substantial 112% increase from the previous revision. However, there is no figure available for the year 2012 in the register.

From 2017 to 2023, the value jumped to Rs 1,800 per sq.ft, representing a 49% increase. The most recent revision in 2024 saw the value rise to Rs 1,980 per sq.ft, which is a 10% increase from the previous year. Overall, the guideline value has increased by 959% from 2002 to 2024.

Guideline values in Pammal

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

• Mahaveer Street / Sathya Nagar: Rs 1,760 per sq.ft (2024)
• Mahimai Dasan Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Mahalingam Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Magimaidas Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Madhavan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madhavan Nair Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Mahatama Gandhi Street / Nagalkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mahatama Gandhi Street / Nagalkeni?

The Sub Registrar Office that covers Mahatama Gandhi Street / Nagalkeni 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 details.

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the buying or selling process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Mahatama Gandhi Street / Nagalkeni?

The current guideline value for Mahatama Gandhi Street / Nagalkeni is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 187 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 959% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Mahatama Gandhi Street / Nagalkeni?

The Pammal Sub Registrar Office handles registrations for Mahatama Gandhi Street / Nagalkeni, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Mahatama Gandhi Street / Nagalkeni?

The land classification for Mahatama Gandhi Street / Nagalkeni is Residential Class II Type - II, indicating its use for residential purposes.