Guideline Value for Gajira Garden 1st Cross Street

Gajira Garden 1st Cross Street guideline value

The current guideline value of Gajira Garden 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Gajira Garden 1st Cross Street has changed

The guideline value for Gajira Garden 1st Cross Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,500 per sq.ft. This figure remained until the 2017 revision when it decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 3,500 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 3,900 per sq.ft, reflecting an 11% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 11%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Gajira Garden 1st Cross Street's current guideline value of Rs 3,900 per sq.ft is above this median.

• Gajira Garden 1st Main Road: Rs 3,900 per sq.ft (2024)
• Gajira Garden 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 2nd Main Road: Rs 3,900 per sq.ft (2024)
• Gajira Garden 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 5th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gajira Garden 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. 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 Gajira Garden 1st Cross Street?

The Sub Registrar Office that covers Gajira Garden 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. This ensures that the fees are calculated based on a standardized value set by the registration department.

When a buyer or seller engages in a property transaction, the guideline value must be considered to ensure compliance with local regulations. This value helps in maintaining transparency in property dealings and ensures that both parties are aware of the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Gajira Garden 1st Cross Street?

The current guideline value of Gajira Garden 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification of Gajira Garden 1st Cross Street?

Gajira Garden 1st Cross Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 39,00,000. The stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Gajira Garden 1st Cross Street?

The Neelankarai Sub Registrar Office handles the registration for Gajira Garden 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.