Guideline Value

Corporate

Guideline Value for GAYATHRI NAGAR MAIN ROAD

₹2750/sq.ft.

The guideline value for Gayathri Nagar Main Road in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Gayathri Nagar Main Road

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Gayathri Nagar Main Road guideline value

The current guideline value of Gayathri Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Gayathri Nagar Main Road has changed

The guideline value for Gayathri Nagar Main Road has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the guideline value at Rs 2,500 per sq.ft. In 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a change of -33%. Following this, the guideline value increased significantly to Rs 2,500 per sq.ft in 2023, and then further rose to Rs 2,750 per sq.ft in 2024, marking an increase of 10%.

From 2012 to 2023, the guideline value increased by 49%, culminating in a current overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Gayathri Nagar Main Road's 2024 figure above this median.

Stamp duty and registration fee for property in Gayathri Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathri Nagar Main Road?

The Sub Registrar Office that covers Gayathri Nagar Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers in Medavakkam, as it affects the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Gayathri Nagar Main Road?

The current guideline value of Gayathri Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the guideline values for other streets in Medavakkam?

Other streets in Medavakkam have guideline values ranging from Rs 2,200 to Rs 2,750 per sq.ft in 2024, with Gayathri Nagar Main Road being at the higher end of this range.

What fees are associated with buying property in Gayathri Nagar Main Road?

When buying property, the total fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gayathri Nagar Main Road?

The Sub Registrar Office for Gayathri Nagar Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.