Guideline Value

Corporate

Guideline Value for GAJALAKSHMI NAGAR PART

₹1430/sq.ft.

The guideline value for Gajalakshmi Nagar Part in Manimangalam A village (Padappai SRO, Chennai zone) is Rs 1430 per sq.ft, effective 1 July 2024. It was Rs 1300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manimangalam A

Village

Padappai

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹1430 /sq.ft.
From 1-4-2023 ₹1300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹871 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Gajalakshmi Nagar Part

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Gajalakshmi Nagar Part guideline value

The current guideline value of Gajalakshmi Nagar Part 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 Part has changed

The guideline value for Gajalakshmi Nagar Part has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,430 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%. The register does not have figures for the years 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 carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Gajalakshmi Nagar Part above this median.

Stamp duty and registration fee for property in Gajalakshmi Nagar Part

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, totaling 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.

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

Which Sub Registrar Office covers Gajalakshmi Nagar Part?

The Sub Registrar Office that covers Gajalakshmi Nagar Part is 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 plays a crucial role during the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This helps maintain transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar Part?

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

How has the guideline value changed over the years?

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

What is the registration office for Gajalakshmi Nagar Part?

The registration office for Gajalakshmi Nagar Part is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Gajalakshmi Nagar Part?

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 guideline value of Rs 1,430 per sq.ft, the total guideline value is Rs 14,30,000.

Are there other streets with similar guideline values in Manimangalam A?

Yes, there are several other streets in Manimangalam A with similar guideline values, including Gajalakshmi Nagar Annex and Gajalakshmi Nagar Annex - II, both also at Rs 1,430 per sq.ft in 2024.