Guideline Value for GAYATHRI NAGAR

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality is situated in Vengaivasal village under the Selaiyur SRO, classified as Industries Special Type - I.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which was then increased to Rs 3,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for Gayathri Nagar. The significant changes between the revisions are a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Gayathri Nagar's 2024 figure above this median.

• G.D Nagar: Rs 2,750 per sq.ft (2024)
• Garden Homes: Rs 2,700 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,700 per sq.ft (2024)
• Glory Nagar: Rs 2,400 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Gopalapuram: Rs 3,350 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. This brings the total cost for stamp duty and registration fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathri Nagar?

The Sub Registrar Office that covers Gayathri Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengaivasal. It serves as the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for legal purposes.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 64% over this period.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Gayathri Nagar?

The Selaiyur Sub Registrar Office covers Gayathri Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Gayathri Nagar?

Gayathri Nagar is classified as Industries Special Type - I, which indicates its suitability for industrial development within the locality.