Guideline Value for Gajendra Nagar

Gajendra Nagar guideline value

The current guideline value of Gajendra Nagar, located in Perumbakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Gajendra Nagar has changed

Over the years, the guideline value of Gajendra Nagar has seen several revisions. The 2012 revision listed the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,000 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median value of Rs 2,725 per sq.ft. Gajendra Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Gajendra Nagar 1st to 5th Cross street: 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

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, and 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 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 Sub Registrar Office that covers Gajendra Nagar is 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 details.

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

The guideline value is a crucial factor when registering a property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures transparency and standardization in property transactions. It helps in avoiding disputes related to property valuation and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gajendra Nagar?

The current guideline value of Gajendra Nagar 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 seen various revisions, with the most recent increase of 10% from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. The value has also increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

What is the land classification of Gajendra Nagar?

The land classification for Gajendra Nagar is Residential Special Type - II, which indicates the type of development permissible in the area.

Where can I find the Selaiyur Sub Registrar Office?

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 in Gajendra Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.