Guideline Value for GAJALAKSHMI NAGAR

Gajalakshmi Nagar guideline value

The current guideline value of Gajalakshmi Nagar is Rs 555 per sq.ft, effective from 1 July 2024. This area is located in Vellanoor-1 village under the Avadi SRO, classified as Residential Class I Type - I.

How the guideline value of Gajalakshmi Nagar has changed

In the 2023 revision, the guideline value was set at Rs 500 per sq.ft. The 2024 revision shows an increase of 11%, bringing the current guideline value to Rs 555 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Thus, the only revisions available are from 2023 and 2024. The increase from Rs 500 to Rs 555 reflects the latest adjustments made in the guideline value register.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median value for these streets is Rs 555 per sq.ft, which is equal to the guideline value of Gajalakshmi Nagar.

• Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Ganesh Nagar: Rs 555 per sq.ft (2024)
• Ganga Nagar Annex: Rs 555 per sq.ft (2024)
• Chelliyamman Nagar Phase - I: Rs 440 per sq.ft (2024)
• Chelliamman Nagar: Rs 555 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Gajalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 555 per sq.ft, the total guideline value amounts to Rs 5,55,000. The stamp duty at 7% would be Rs 38,850, and the registration fee at 2% would be Rs 11,100, totaling Rs 49,950. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gajalakshmi Nagar?

The Gajalakshmi Nagar area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, 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 Vellanoor-1

The guideline value is a crucial factor during property registration in Vellanoor-1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price according to government standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar?

The current guideline value of Gajalakshmi Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 500 per sq.ft in 2023 to Rs 555 per sq.ft in 2024, reflecting an 11% rise.

What is the land classification for Gajalakshmi Nagar?

Gajalakshmi Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 5,55,000.

Which Sub Registrar Office covers Gajalakshmi Nagar?

The Avadi Sub Registrar Office covers Gajalakshmi Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.