Guideline Value for GAYATHRI GARDEN

Gayathri Garden guideline value

The current guideline value of Gayathri Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gayathri Garden has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49% over that period. The most recent revision in 2024 established the current guideline value at Rs 1,700 per sq.ft, which is a 13% increase from the previous year’s value of Rs 1,500 per sq.ft.

For the years 2002, 2003, and 2007, the register has no figure for Gayathri Garden. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is equal to the current guideline value of Gayathri Garden.

• Gnanasundram Garden: Rs 2,800 per sq.ft (2024)
• Ganesh Ram Garden: Rs 1,100 per sq.ft (2024)
• Ganesan / Mohan Garden: Rs 1,700 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Gandhi Salai: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Co-Opearative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost together to Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathri Garden?

The Gayathri Garden area is covered by 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 details.

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

The guideline value is a crucial factor during property registration as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gayathri Garden?

The current guideline value of Gayathri Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Gayathri Garden?

Gayathri Garden is classified as Residential Class IV Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Gayathri Garden?

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 the current guideline value, the total stamp duty would be Rs 1,19,000.