Guideline Value for Gajendra Nagar

Gajendra Nagar guideline value

The current guideline value of Gajendra Nagar, located in Melakottyur village under the Gooduvancheri SRO, is Rs 400 per sq.ft as per the 2023 revision. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gajendra Nagar has changed

The guideline value for Gajendra Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 160 per sq.ft. This increased significantly to Rs 400 per sq.ft in the 2012 revision, representing a 150% rise. However, in the 2017 revision, the value decreased to Rs 268 per sq.ft, a drop of 33% from the previous revision. The most recent revision in 2023 saw the guideline value rise again to Rs 400 per sq.ft, marking a 49% increase from 2017.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 150%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values available for other streets in Melakottyur under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Gajendra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value totals Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 Gajendra Nagar?

The Gajendra Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Melakottyur. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Gajendra Nagar?

The current guideline value of Gajendra Nagar is Rs 400 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in 2023.

What is the registration office for Gajendra Nagar?

The registration office for Gajendra Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Gajendra Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 28,000.

Are there other streets in Melakottyur with guideline values?

Currently, there are no specific guideline values available for other streets in Melakottyur under the Gooduvancheri SRO.