Guideline Value for GAJALAKSHMI NAGAR

Gajalakshmi Nagar guideline value

The current guideline value of Gajalakshmi Nagar is Rs 900 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Gajalakshmi Nagar has changed

According to the guideline value register, there are no figures available for Gajalakshmi Nagar for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that in 2023, the guideline value was Rs 300 per sq.ft, which increased to Rs 900 per sq.ft in 2024, marking a change of +200%.

The 2024 revision reflects a significant increase from the previous year, indicating a notable adjustment in the guideline value for this street. The current value of Rs 900 per sq.ft is now above the median guideline value for other streets in Ponneri.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft. The median value among these streets is Rs 700 per sq.ft, placing Gajalakshmi Nagar above this median.

• Friendship Street: Rs 700 per sq.ft (2024)
• Ettiyamman Kovil Street: Rs 700 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)
• Durga Nagar: Rs 700 per sq.ft (2024)
• Golden Avenue: Rs 700 per sq.ft (2024)
• Dhevattamman Kovil Street: Rs 700 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 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, totaling Rs 81,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gajalakshmi Nagar?

The Sub Registrar Office that covers Gajalakshmi Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the process of buying or selling property in Ponneri. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions.

When a property is sold, the guideline value is considered to ensure that the transaction is accurately recorded and that appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar?

The current guideline value of Gajalakshmi Nagar is Rs 900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 300 per sq.ft in 2023 to Rs 900 per sq.ft in 2024, reflecting a change of +200%.

What is the land classification of Gajalakshmi Nagar?

Gajalakshmi Nagar is classified as Residential Class I Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 9,00,000. The stamp duty at 7% is Rs 63,000, and the registration fee at 2% is Rs 18,000, totaling Rs 81,000.

Which office handles property registrations in Gajalakshmi Nagar?

The Ponneri Sub Registrar Office handles property registrations in Gajalakshmi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.