Guideline Value for GAJALAKSHMI NAGAR EXTENSTION

Gajalakshmi Nagar Extenstion guideline value

The current guideline value of Gajalakshmi Nagar Extenstion is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Serapanancheri village under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Gajalakshmi Nagar Extenstion has changed

In the 2017 revision, the guideline value was Rs 603 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 990 per sq.ft, reflecting 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 years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 4,440 per sq.ft. The median guideline value for these streets is Rs 720 per sq.ft, placing Gajalakshmi Nagar Extenstion above this median value.

• Gajalakshmi Nagar: Rs 720 per sq.ft (2024)
• Ezhil Nagar: Rs 720 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 720 per sq.ft (2024)
• Cresent Enclave: Rs 4,440 per sq.ft (2024)
• Jai Nagar: Rs 990 per sq.ft (2024)
• Balaji Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Gajalakshmi Nagar Extenstion

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, these fees would total Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gajalakshmi Nagar Extenstion?

The Gajalakshmi Nagar Extenstion falls under 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 Serapanancheri

The guideline value is a critical factor during the registration process of property transactions in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When you register a property, the authorities will assess the higher amount between the guideline value and the actual sale price to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar Extenstion?

The current guideline value of Gajalakshmi Nagar Extenstion is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has seen significant increases, moving from Rs 603 per sq.ft in 2017 to Rs 990 per sq.ft in 2024, an overall increase of 64%.

What are the stamp duty and registration fees for Gajalakshmi Nagar Extenstion?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles registrations for Gajalakshmi Nagar Extenstion?

The Padappai Sub Registrar Office is responsible for handling registrations in Gajalakshmi Nagar Extenstion, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Serapanancheri?

The median guideline value for the 53 streets in Serapanancheri is Rs 720 per sq.ft, with Gajalakshmi Nagar Extenstion's value being above this median.