Guideline Value for Gajapathy Street

Gajapathy Street guideline value

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

How the guideline value of Gajapathy Street has changed

The guideline value of Gajapathy Street has undergone several revisions over the years. In 2002, the value was Rs 577 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 108%. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2012, reflecting a 317% jump. However, it declined to Rs 3,350 per sq.ft in 2017, a decrease of 33%. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Gajapathy Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 853%.

Guideline values in Aminjikarai

Aminjikarai village has 99 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Gajapathy Street's 2024 figure above the median.

• Gajapathy Lane: 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 Street

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 to Rs 4,95,000. 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 Gajapathy Street?

Gajapathy Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 is a crucial factor in property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The guideline value ensures that the government receives the appropriate taxes based on the current valuation of the property.

When registering a property, the buyer must pay the stamp duty and registration fees calculated on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Gajapathy Street?

The current guideline value of Gajapathy Street 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 seen significant changes, increasing from Rs 577 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 853%.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the guideline value determined in Aminjikarai?

The guideline value in Aminjikarai is determined based on various factors, including land classification and market conditions. It is revised periodically to reflect current values and is used for calculating stamp duty and registration fees.