Guideline Value for Gajalakshmi Nagar

Gajalakshmi Nagar guideline value

The current guideline value of Gajalakshmi Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Gajalakshmi Nagar has changed

The guideline value for Gajalakshmi Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 850 per sq.ft in 2012. However, it dropped to Rs 569 per sq.ft in 2017. The value then rose to Rs 850 per sq.ft in 2023 before reaching the current figure of Rs 935 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, there has been a substantial increase of 523% in the guideline value.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value is Rs 935 per sq.ft, which is the same as the current value for Gajalakshmi Nagar.

• E.V.S. Nagar: Rs 660 per sq.ft (2024)
• Gangai Amman Koil St: Rs 660 per sq.ft (2024)
• Hari Sai Nagar: Rs 800 per sq.ft (2024)
• Cholan Nagar: Rs 935 per sq.ft (2024)
• Chinthamani Nagar: Rs 880 per sq.ft (2024)
• Jai Nagar Phase II: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Gajalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, totaling Rs 84,150. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gajalakshmi Nagar?

The Gajalakshmi Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gajalakshmi Nagar?

The current guideline value of Gajalakshmi Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 935 per sq.ft in 2024, showing an overall increase of 523% over this period.

What is the stamp duty rate for properties in Gajalakshmi Nagar?

The stamp duty rate for properties in Gajalakshmi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gajalakshmi Nagar?

The Sub Registrar Office covering Gajalakshmi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the guideline values of other streets in Malayambakkam?

Other streets in Malayambakkam have varying guideline values, with rates ranging from Rs 450 to Rs 2,750 per sq.ft, and the median value being Rs 935 per sq.ft.