Guideline Value for Thandayar Street / Gandhi Nagar

Thandayar Street / Gandhi Nagar guideline value

The current guideline value of Thandayar Street / Gandhi Nagar is Rs 2,475 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 I Type - II.

How the guideline value of Thandayar Street / Gandhi Nagar has changed

The guideline value for Thandayar Street / Gandhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, showing a 69% increase. From 2007 to 2017, the value surged to Rs 1,507 per sq.ft, a remarkable increase of 319%. The next revision in 2023 set the value at Rs 2,250 per sq.ft, reflecting a 49% increase from the previous figure. The most recent revision in 2024 saw the guideline value rise to Rs 2,475 per sq.ft, a 10% increase from 2023. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Thandayar Street / Gandhi Nagar above this median.

• Thandai Periyar Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Thandai Periyar Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar Street / Muthamazhi Nagar: Rs 1,980 per sq.ft (2024)
• Thandai Periyar Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Thandai Periyar Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Thandai Periyar Nagar (All Streets): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Thandayar Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, making the total cost for these fees Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thandayar Street / Gandhi Nagar?

The Sub Registrar Office that covers Thandayar Street / Gandhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair price of the property. Buyers must be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, thus impacting the overall transaction costs.

Frequently asked questions

What is the current guideline value of Thandayar Street / Gandhi Nagar?

The current guideline value of Thandayar Street / Gandhi Nagar is Rs 2,475 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 188 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 1216% over the years.

What is the land classification for Thandayar Street / Gandhi Nagar?

Thandayar Street / Gandhi Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Thandayar Street / Gandhi Nagar?

The Sub Registrar Office for Thandayar Street / Gandhi Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 24,75,000, the stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500.