Guideline Value for Gajendra Nagar 1st to 5th Cross street

Gajendra Nagar 1st to 5th Cross street guideline value

The current guideline value of Gajendra Nagar 1st to 5th Cross street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Gajendra Nagar 1st to 5th Cross street has changed

The guideline value for Gajendra Nagar 1st to 5th Cross street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged in 2017, where it dropped to Rs 2,010 per sq.ft. The 2023 revision increased the value to Rs 3,000 per sq.ft, followed by the current 2024 revision, which raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, indicating that Gajendra Nagar 1st to 5th Cross street's 2024 guideline value is above this median.

• Gajendra Nagar: Rs 3,300 per sq.ft (2024)
• Ethiraj street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross st, "Verdant Acres": Rs 2,725 per sq.ft (2024)
• Gandhi Nagar Society: Rs 2,725 per sq.ft (2024)
• Elangovadigal street: Rs 3,300 per sq.ft (2024)
• Elangovadigal cross street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gajendra Nagar 1st to 5th Cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gajendra Nagar 1st to 5th Cross street?

The Gajendra Nagar 1st to 5th Cross street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Perumbakkam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the registration of a property. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gajendra Nagar 1st to 5th Cross street?

The current guideline value of Gajendra Nagar 1st to 5th Cross street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. The value was Rs 2,010 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

What is the land classification for Gajendra Nagar 1st to 5th Cross street?

Gajendra Nagar 1st to 5th Cross street is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Gajendra Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.