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Guideline Value

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Guideline Value for Gajalakshmi Nagar @ Marvel County

₹1320/sq.ft.

The guideline value for Gajalakshmi Nagar @ Marvel County in Varadarajapuram village (Padappai SRO, Chennai zone) is Rs 1320 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Varadarajapuram

Village

Padappai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1320 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

3/158, Pushpagiri Main Rd, Padappai - 601 301.
044-27174392
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Gajalakshmi Nagar @ Marvel County

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Gajalakshmi Nagar @ Marvel County guideline value

The current guideline value for Gajalakshmi Nagar @ Marvel County is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Varadarajapuram village and falls under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Gajalakshmi Nagar @ Marvel County has changed

Over the years, the guideline value of Gajalakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the 2023 revision raised it to Rs 1,200 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,320 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Gajalakshmi Nagar's 2024 figure below this median.

Stamp duty and registration fee for property in Gajalakshmi Nagar @ Marvel County

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gajalakshmi Nagar @ Marvel County?

The Sub Registrar Office that covers Gajalakshmi Nagar @ Marvel County is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that all transactions are transparent and adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar?

The current guideline value of Gajalakshmi Nagar @ Marvel County is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

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

For a property valued at Rs 13,20,000, the stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Gajalakshmi Nagar?

The Padappai Sub Registrar Office handles registrations for Gajalakshmi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value determined for properties in Varadarajapuram?

The guideline value is determined by the Registration Department based on various factors and is revised periodically. It serves as a standard for calculating stamp duty and registration fees during property transactions.