Guideline Value for GAYATHRI NAGAR

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar, located in Kolatti village under the Ponneri SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in 2017. In 2023, the value increased to Rs 300 per sq.ft, and the most recent revision in 2024 set the value at Rs 330 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft. The median value among these streets is Rs 275 per sq.ft, positioning Gayathri Nagar's 2024 figure above this median.

• Best & Crompton Nagar: Rs 330 per sq.ft (2024)
• Kollatti Bajani Kovil St: Rs 220 per sq.ft (2024)
• Kollatti Kuttu Road Salai: Rs 220 per sq.ft (2024)
• Naidu Street: Rs 220 per sq.ft (2024)
• Nandiyam Pakkam Road: Rs 220 per sq.ft (2024)
• Parasakthi Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. 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 details.

Which Sub Registrar Office covers Gayathri Nagar?

The Sub Registrar Office covering Gayathri Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kolatti, as it determines the minimum value at which a property can be registered. Buyers must consider this value to understand the financial implications of the transaction, including the stamp duty and registration fees that are calculated based on the guideline value.

When a property is sold, the guideline value serves as a benchmark for the registration process. It ensures that the property is registered at a value that reflects its worth according to government standards, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification for Gayathri Nagar?

Gayathri Nagar falls under the Residential Class I Type - I land classification.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.