Guideline Value for GAYATHRI NAGAR

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar, located in Korattur village under the Villivakkam SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has seen several revisions over the years. Starting from Rs 96 per sq.ft in 2002, it increased significantly to Rs 250 per sq.ft in 2007, marking a change of +160%. In the following revision of 2012, the value remained at Rs 1,200 per sq.ft, showing no change from the previous year. However, in 2023, the value was again set at Rs 1,200 per sq.ft, maintaining the same rate as 2012.

The most recent revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, reflecting an increase of +8% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1254%, demonstrating a significant rise in property valuation over the years. The register has no figures for the years 2003 and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Gayathri Nagar's 2024 figure below that median.

• Gangai Nagar Yamuna Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar V.O.C Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Valliammal Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Vaigai Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thiruvallur Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thirunavukarasu Street: Rs 2,500 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Gayathri Nagar?

The Sub Registrar Office that covers Gayathri Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the guideline value helps in ensuring transparency and fairness in property dealings. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 96 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, marking an overall increase of +1254% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which Sub Registrar Office covers Gayathri Nagar?

The Villivakkam Sub Registrar Office covers Gayathri Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Gayathri Nagar?

Gayathri Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes within the area.