Guideline Value for GAJARAJAN STREET EXTENSION

Gajarajan Street Extension guideline value

The current guideline value of Gajarajan Street Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Gajarajan Street Extension has changed

The guideline value for Gajarajan Street Extension has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Gajarajan Street Extension's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Gajarajan Street: Rs 2,200 per sq.ft (2024)
• Elumalai Garden: Rs 1,000 per sq.ft (2024)
• GANGAI AMMAN KOIL 1st STREET (NORTH): Rs 2,200 per sq.ft (2024)
• GANGAI AMMAN KOIL 1st STREET (SOUTH): Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street Extension: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street & Extention: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gajarajan Street Extension

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Gajarajan Street Extension?

The Gajarajan Street Extension falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value or the sale price is considered, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gajarajan Street Extension?

The current guideline value of Gajarajan Street Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Gajarajan Street Extension?

Gajarajan Street Extension is classified as Residential Class II Type - II.

What are the stamp duty rates for properties in Gajarajan Street Extension?

The stamp duty for properties in Gajarajan Street Extension is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gajarajan Street Extension?

The Sub Registrar Office covering Gajarajan Street Extension is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.