Guideline Value for THIRUMAL 7TH STREET (GANDHI NAGAR)

Thirumal 7th Street (Gandhi Nagar) guideline value

The current guideline value of Thirumal 7th Street (Gandhi Nagar) is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thirumal 7th Street (Gandhi Nagar) has changed

The guideline value for Thirumal 7th Street has seen several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 3,200 per sq.ft. This figure remained the same in the 2012 revision but dropped to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, marking a 49% increase from the 2017 revision. The most recent revision in 2024 has set the guideline value at Rs 3,520 per sq.ft, a 10% increase from the previous year.

There are no available figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 4,620 per sq.ft, placing Thirumal 7th Street's 2024 value below this median.

• Thirukumaran St: Rs 3,080 per sq.ft (2024)
• Thirugnanasambandam Street: Rs 3,520 per sq.ft (2024)
• Thirumal Street: Rs 3,520 per sq.ft (2024)
• Thirumoolar Street: Rs 3,520 per sq.ft (2024)
• Thanigaimalai St: Rs 3,080 per sq.ft (2024)
• Thandavarayan Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumal 7th Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thirumal 7th Street (Gandhi Nagar)?

The Sub Registrar Office that covers Thirumal 7th Street (Gandhi Nagar) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ekkaduthangal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark to assess the value of the property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Thirumal 7th Street (Gandhi Nagar)?

The current guideline value of Thirumal 7th Street (Gandhi Nagar) is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Thirumal 7th Street (Gandhi Nagar)?

The land classification for Thirumal 7th Street (Gandhi Nagar) is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Thirumal 7th Street (Gandhi Nagar)?

The Sub Registrar Office for Thirumal 7th Street (Gandhi Nagar) is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Thirumal 7th Street (Gandhi Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,46,400.