Guideline Value for Gajira Garden 2nd Main Road

Gajira Garden 2nd Main Road guideline value

The current guideline value of Gajira Garden 2nd Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This road is located in Neelankarai village and falls under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Gajira Garden 2nd Main Road has changed

The guideline value for Gajira Garden 2nd Main Road has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 3,500 per sq.ft. In 2017, this value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,500 per sq.ft in 2023, followed by a further increase to the current rate of Rs 3,900 per sq.ft in 2024, reflecting an 11% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 11%. The 2023 to 2024 revision shows an increase of 11%, while the change from 2017 to 2023 indicates a substantial increase of 49%. The register does not have 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, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning Gajira Garden 2nd Main Road above this median.

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

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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gajira Garden 2nd Main Road?

The Gajira Garden 2nd Main Road falls under the jurisdiction of 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 is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the fees are based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gajira Garden 2nd Main Road?

The current guideline value of Gajira Garden 2nd Main Road 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, an increase of 11%. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Gajira Garden 2nd Main Road?

Gajira Garden 2nd Main Road is classified as Residential Class I Type - II.

What are the other streets in Neelankarai with the same guideline value?

Other streets in Neelankarai with a guideline value of Rs 3,900 per sq.ft in 2024 include Gajira Garden 2nd Cross Street, Gajira Garden 3rd Cross Street, Gajira Garden 1st Main Road, Gajira Garden 4th Cross Street, Gajira Garden 1st Cross Street, and Gajira Garden 5th Cross Street.

Where can I find the Neelankarai Sub Registrar Office?

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