Guideline Value for GAJAPATHY NAGAR

Gajapathy Nagar guideline value

The current guideline value of Gajapathy Nagar is Rs 111 per sq.ft, effective from 1 July 2024. This locality is situated in Kudalur village under the Madurandakam SRO, classified as Mixed Type - I land.

How the guideline value of Gajapathy Nagar has changed

Over the years, the guideline value for Gajapathy Nagar has seen several revisions. The 2012 revision set the value at Rs 110 per sq.ft, which then decreased to Rs 74 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 50%, bringing it back to Rs 111 per sq.ft, where it has remained through the 2023 revision. The 2024 revision also maintains the value at Rs 111 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for Gajapathy Nagar in the 2002, 2003, and 2007 revisions. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 1%.

Guideline values in Kudalur

Kudalur village has 10 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 299 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Gajapathy Nagar's 2024 figure above this median.

• Asayaa Nagar: Rs 299 per sq.ft (2024)
• A.J. Avenue: Rs 100 per sq.ft (2024)
• Madan City: Rs 100 per sq.ft (2024)
• Rallys Nagar: Rs 100 per sq.ft (2024)
• Rasi Nagar Phase-II: Rs 111 per sq.ft (2024)
• Sasi Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Gajapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 111 per sq.ft, the total guideline value would be Rs 1,11,000. The stamp duty at 7% would amount to Rs 7,770, while the registration fee at 2% would be Rs 2,220. Together, the total fees would be Rs 9,990. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gajapathy Nagar?

The Sub Registrar Office that covers Gajapathy Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kudalur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding this value helps in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Gajapathy Nagar?

The current guideline value of Gajapathy Nagar is Rs 111 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2012 to Rs 74 per sq.ft in 2017, then increased to Rs 111 per sq.ft in 2023 and has remained the same in 2024.

What are the other streets in Kudalur and their guideline values?

Other streets in Kudalur include Asayaa Nagar at Rs 299 per sq.ft, A.J. Avenue at Rs 100 per sq.ft, Madan City at Rs 100 per sq.ft, Rallys Nagar at Rs 100 per sq.ft, Rasi Nagar Phase-II at Rs 111 per sq.ft, and Sasi Nagar at Rs 100 per sq.ft.

How is stamp duty calculated for properties in Gajapathy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 111 per sq.ft, the total guideline value would be Rs 1,11,000.

Where can I find the Sub Registrar Office for Gajapathy Nagar?

The Sub Registrar Office for Gajapathy Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.