Guideline Value for Gajapathy Lane

Gajapathy Lane guideline value

The current guideline value of Gajapathy Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village and falls under the AnnaNagar SRO with a land classification of Residential Class II Type - I.

How the guideline value of Gajapathy Lane has changed

The guideline value for Gajapathy Lane has experienced several revisions over the years. Starting from the 2002 revision, the value was Rs 560 per sq.ft. This increased significantly by 114% to Rs 1,200 per sq.ft in 2007. The next revision in 2012 saw a decrease of 33%, bringing the value back to Rs 5,000 per sq.ft. In 2017, the value rose to Rs 3,350 per sq.ft, marking a 49% increase from the previous revision. The 2023 revision set the value at Rs 5,000 per sq.ft, followed by a 10% increase to the current value of Rs 5,500 per sq.ft in 2024.

It is important to note that there is no figure for Gajapathy Lane in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 882%.

Guideline values in Aminjikarai

Aminjikarai has 99 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this village is Rs 4,400 per sq.ft, placing Gajapathy Lane's 2024 figure above this median.

• Gajapathy Street: Rs 5,500 per sq.ft (2024)
• Gajalakshmi Colony: Rs 5,500 per sq.ft (2024)
• East Park Road: Rs 14,300 per sq.ft (2024)
• East Mada Street: Rs 4,400 per sq.ft (2024)
• East Mada Lane: Rs 4,400 per sq.ft (2024)
• East Club Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gajapathy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gajapathy Lane?

The Sub Registrar Office that covers Gajapathy Lane is 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 details.

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

The guideline value plays a crucial role during property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value helps establish a baseline for the transaction. It ensures that the registration process is transparent and that the appropriate taxes are collected based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Gajapathy Lane?

The current guideline value of Gajapathy Lane 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 from Rs 560 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 882% over the years.

What are the stamp duty and registration fees for properties in Gajapathy Lane?

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 4,95,000, which includes stamp duty and registration fees based on the guideline value.

Which Sub Registrar Office covers Gajapathy Lane?

The AnnaNagar Sub Registrar Office covers Gajapathy Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Gajapathy Lane?

Gajapathy Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.