Guideline Value for GAJALAKSHMI NAGAR

Gajalakshmi Nagar guideline value

The current guideline value of Gajalakshmi Nagar, located in Erandankattalai village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Gajalakshmi Nagar has changed

The guideline value for Gajalakshmi Nagar has changed significantly over the years. The 2017 revision set the value at Rs 1,000 per sq.ft, which was the last recorded figure before the current revision in 2024. The 2024 revision increased this value by 65%, bringing it to Rs 1,650 per sq.ft.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only recorded changes are from the 2017 to the 2024 revision.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which means that Gajalakshmi Nagar's current value of Rs 1,650 per sq.ft is above this median.

• Everest Garden - VI: Rs 1,100 per sq.ft (2024)
• Everest Garden - V: Rs 1,100 per sq.ft (2024)
• Everest Garden - IV: Rs 1,100 per sq.ft (2024)
• Everest Garden - III: Rs 1,100 per sq.ft (2024)
• Everest Garden - II: Rs 1,100 per sq.ft (2024)
• Everest Garden - I: Rs 1,100 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gajalakshmi Nagar?

The Gajalakshmi Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erandankattalai. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When a property transaction occurs, the guideline value is used to assess the minimum value on which the stamp duty is calculated. This means that if the sale price is lower than the guideline value, the stamp duty will be charged based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar?

The current guideline value of Gajalakshmi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the last recorded figure in 2017, which was Rs 1,000 per sq.ft, the guideline value has increased by 65% to reach Rs 1,650 per sq.ft in 2024.

What is the land classification for Gajalakshmi Nagar?

Gajalakshmi Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duties calculated in Gajalakshmi Nagar?

Stamp duties in Gajalakshmi Nagar are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.