Guideline Value for Gajira Garden 2nd Cross Street

Gajira Garden 2nd Cross Street guideline value

The current guideline value of Gajira Garden 2nd 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 2nd Cross Street has changed

The guideline value for Gajira Garden 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. In 2023, the value increased to Rs 3,500 per sq.ft, and in the latest 2024 revision, it rose further to Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, comparing the 2012 figure to the 2024 figure, there has been an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, 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. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that Gajira Garden 2nd Cross Street's 2024 figure is above that median.

• Gajira Garden 1st Main Road: Rs 3,900 per sq.ft (2024)
• Gajira Garden 2nd Main Road: Rs 3,900 per sq.ft (2024)
• Gajira Garden 1st Cross Street: 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 2nd 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, bringing the total cost for these fees to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gajira Garden 2nd Cross Street?

The Sub Registrar Office that covers Gajira Garden 2nd 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Neelankarai. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Gajira Garden 2nd Cross Street?

The current guideline value of Gajira Garden 2nd 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 2023 to Rs 3,900 per sq.ft in 2024. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification of Gajira Garden 2nd Cross Street?

Gajira Garden 2nd Cross Street is classified as Residential Class I Type - II.

What is the median guideline value in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, making Gajira Garden 2nd Cross Street's value above this median.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.