Guideline Value for Mahathma Gandhi Street

Mahathma Gandhi Street guideline value

The current guideline value of Mahathma Gandhi Street is Rs 900 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mahathma Gandhi Street has changed

Over the years, the guideline value of Mahathma Gandhi Street has seen several revisions. The 2007 revision set the value at Rs 147 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision. However, it dropped to Rs 603 per sq.ft in the 2017 revision, before returning to Rs 900 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 was a remarkable 512%. Overall, the guideline value has increased by 512% from 2007 to 2024, reflecting the changes in the property landscape over the years.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 800 per sq.ft. Mahathma Gandhi Street's 2024 figure of Rs 900 per sq.ft is above this median.

• Mailan Street: Rs 900 per sq.ft (2024)
• Malayametu Street: Rs 1,000 per sq.ft (2024)
• Maliyangaranai Madhura Manikka Naththam: Rs 700 per sq.ft (2024)
• Madhuriyamman Koil Street: Rs 900 per sq.ft (2024)
• Mallicheri: Rs 250 per sq.ft (2024)
• Malligapuram 1st Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Mahathma Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees to Rs 81,000. It is important to note that the 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 Mahathma Gandhi Street?

The Sub Registrar Office that covers Mahathma Gandhi Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Uthiramerur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mahathma Gandhi Street?

The current guideline value of Mahathma Gandhi Street is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 147 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then dropped to Rs 603 per sq.ft in 2017, and returned to Rs 900 per sq.ft in both 2023 and 2024.

What are the other streets in Uthiramerur and their guideline values?

Other streets in Uthiramerur include Mailan Street and Madhuriyamman Koil Street, both valued at Rs 900 per sq.ft, Malayametu Street at Rs 1,000 per sq.ft, Maliyangaranai Madhura Manikka Naththam at Rs 700 per sq.ft, Mallicheri at Rs 250 per sq.ft, and Malligapuram 1st Street at Rs 350 per sq.ft.

Where is the Uthiramerur Sub Registrar Office located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mahathma Gandhi Street?

Stamp duty for properties in Mahathma Gandhi Street is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 9,00,000, the stamp duty would be Rs 63,000 at 7%.