Guideline Value

Corporate

Guideline Value for GAYATHRI NAGAR

₹330/sq.ft.

The guideline value for Gayathri Nagar in Nanthiambakkam village (Thiruvottiyur SRO, Chennai zone) is Rs 330 per sq.ft, effective 1 July 2024. It was Rs 300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nanthiambakkam

Village

Thiruvottiyur

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹330 /sq.ft.
From 1-4-2023 ₹300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹201 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹50 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹32 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹28 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019
044-25992232
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[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

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Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has seen several revisions over the years. In 2002, the value was Rs 28 per sq.ft, which increased to Rs 32 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 50 per sq.ft in 2007, reflecting a 56% increase. Following this, the value surged to Rs 300 per sq.ft in 2012, a remarkable 500% increase. However, in 2017, the value decreased to Rs 201 per sq.ft, a decline of 33%. The guideline value increased again to Rs 300 per sq.ft in 2023, and finally, it reached Rs 330 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,079%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, placing Gayathri Nagar's 2024 figure at the median.

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 is calculated at 7%, which comes to Rs 23,100, and the registration fee is charged at 2%, amounting to Rs 6,600. Therefore, the total cost for stamp duty and registration fee together is Rs 29,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gayathri Nagar?

The Sub Registrar Office that covers Gayathri Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the current market.

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 28 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1,079% over this period.

What is the land classification for Gayathri Nagar?

The land classification for Gayathri Nagar is Residential Special Type - II.

What are the stamp duty and registration fees for property in Gayathri Nagar?

For a property valued at Rs 3,30,000, the stamp duty is Rs 23,100 and the registration fee is Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers Gayathri Nagar?

The Thiruvottiyur Sub Registrar Office covers Gayathri Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.