Guideline Value for Mahathama Gandhi Street

Mahathama Gandhi Street guideline value

The current guideline value of Mahathama Gandhi Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in 44.Ayanambakkam village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mahathama Gandhi Street has changed

The guideline value for Mahathama Gandhi Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The current 2024 revision reflects a further increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 62%.

Revisions prior to 2017, specifically in 2002, 2003, 2007, and 2012, have no figures recorded for this street. The increase from 2017 to 2023 was 49%, indicating significant growth in the guideline value over this period.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 9,702 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, which aligns with the current value of Mahathama Gandhi Street.

• Manthoppu Salai: Rs 1,700 per sq.ft (2024)
• Masilamani Nagar: Rs 1,300 per sq.ft (2024)
• Mel Ayanambakkam Road: Rs 1,300 per sq.ft (2024)
• Mel Ayanampakkam Perumal Koil Main Street: Rs 1,100 per sq.ft (2024)
• Metro City Society (Phase I): Rs 1,700 per sq.ft (2024)
• Metro City Society (Phase II): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mahathama 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 amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mahathama Gandhi Street?

The Sub Registrar Office that covers Mahathama Gandhi Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a critical factor during property transactions in 44.Ayanambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mahathama Gandhi Street?

The current guideline value of Mahathama 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 increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, which is a total increase of 62% over this period.

What are the stamp duty and registration fees for properties on Mahathama Gandhi Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office is responsible for Mahathama Gandhi Street?

The Konnur Sub Registrar Office covers Mahathama Gandhi Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.