Guideline Value for Gajalakshmi Colony

Gajalakshmi Colony guideline value

The current guideline value of Gajalakshmi Colony, located in Periakudal village under the AnnaNagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Gajalakshmi Colony has changed

The guideline value of Gajalakshmi Colony has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a change of +233%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of -33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024, which is a +10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by +49%. Overall, from 2007 to 2024, the guideline value has increased by +267%, reflecting significant changes over the years.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value for Gajalakshmi Colony is below this median.

• F-Block, 9th Street: Rs 11,500 per sq.ft (2024)
• F-Block, 8th Street: Rs 11,500 per sq.ft (2024)
• F-Block, 7th Street: Rs 11,500 per sq.ft (2024)
• F-Block, 6th Street: Rs 11,500 per sq.ft (2024)
• F-Block, 5th Street: Rs 11,500 per sq.ft (2024)
• F-Block, 4th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gajalakshmi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Gajalakshmi Colony?

The Gajalakshmi Colony is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Periakudal. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Gajalakshmi Colony?

The current guideline value of Gajalakshmi Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the value increasing from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of +267%.

What is the land classification of Gajalakshmi Colony?

Gajalakshmi Colony is classified as Residential Class II Type - I, which is important for understanding its use and potential developments.

What are the stamp duty and registration fees for properties in Gajalakshmi Colony?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Which office handles property registrations in Gajalakshmi Colony?

The AnnaNagar Sub Registrar Office is responsible for property registrations in Gajalakshmi Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.