Guideline Value for GAJALAKSHMI NAGAR ANNEX

Gajalakshmi Nagar Annex guideline value

The current guideline value of Gajalakshmi Nagar Annex is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Gajalakshmi Nagar Annex has changed

The guideline value for Gajalakshmi Nagar Annex has undergone several revisions over the years. The earliest recorded revision in 2017 set the value at Rs 871 per sq.ft. This figure increased significantly to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 1,430 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Gajalakshmi Nagar Annex's 2024 figure above that median.

• Gajalakshmi Nagar Annex - II: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar Part: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,430 per sq.ft (2024)
• F.M City: Rs 550 per sq.ft (2024)
• Elumalai Nagar: Rs 770 per sq.ft (2024)
• Ganesh Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Gajalakshmi Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, leading to a total of Rs 1,28,700. 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 Gajalakshmi Nagar Annex?

The Gajalakshmi Nagar Annex is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Manimangalam A. It determines the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established guideline value.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar Annex?

The current guideline value of Gajalakshmi Nagar Annex is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 871 per sq.ft to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Gajalakshmi Nagar Annex?

The land classification for Gajalakshmi Nagar Annex is Residential Special Type - I, indicating its suitability for residential development.

How is stamp duty calculated in Gajalakshmi Nagar Annex?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 14,30,000 would incur a stamp duty of Rs 1,00,100.

Which office handles property registrations for Gajalakshmi Nagar Annex?

The Padappai Sub Registrar Office handles property registrations for Gajalakshmi Nagar Annex, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.