Guideline Value for GOMATHI GARDEN

Gomathi Garden guideline value

The current guideline value of Gomathi Garden is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Matthur village under the Thiruvottiyur SRO, and the land classification is Residential Special Type - II.

How the guideline value of Gomathi Garden has changed

The guideline value for Gomathi Garden has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and from there, it increased to Rs 1,600 per sq.ft in 2024, reflecting a 7% change. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 220%. The most notable change occurred between 2017 and 2023, where the value jumped by 49%. The consistent revisions indicate a dynamic adjustment in property valuation in the area.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. Gomathi Garden's current figure of Rs 1,600 per sq.ft is above this median, indicating a higher valuation compared to many other streets in the village.

• George Road: Rs 1,100 per sq.ft (2024)
• Grama Street: Rs 1,100 per sq.ft (2024)
• Ganesh Nagar: Rs 1,100 per sq.ft (2024)
• Gandhi Nagar: Rs 1,100 per sq.ft (2024)
• Jai Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Eswari Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gomathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gomathi Garden?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Matthur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a buyer or seller engages in a transaction, the guideline value helps determine the legal and financial obligations associated with the property transfer. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gomathi Garden?

The current guideline value of Gomathi Garden is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 220% over the years.

What is the land classification for Gomathi Garden?

The land classification for Gomathi Garden is Residential Special Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000, leading to specific fees based on this amount.