Guideline Value for GAJARAJAN STREET

Gajarajan Street guideline value

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

How the guideline value of Gajarajan Street has changed

Over the years, the guideline value of Gajarajan Street has seen significant changes. The 2007 revision recorded a value of Rs 500 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, reflecting a rise of 300%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest 2024 revision increased it to Rs 2,200 per sq.ft, which is a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Gajarajan Street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

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's 2024 guideline value is above this median.

• Gajarajan Street Extension: 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 & Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gajarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gajarajan Street?

The Sub Registrar Office that covers Gajarajan Street is 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 of property transactions in Karapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for pricing. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Gajarajan Street?

The current guideline value of Gajarajan Street 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 significantly, increasing from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

What is the registration office for Gajarajan Street?

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

How is stamp duty calculated on properties in Gajarajan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

What other streets have similar guideline values in Karapakkam?

Other streets in Karapakkam with similar guideline values include Gajarajan Street Extension, GANGAI AMMAN KOIL 1st STREET (NORTH), GANGAI AMMAN KOIL 1st STREET (SOUTH), and others, all valued at Rs 2,200 per sq.ft in 2024.