Guideline Value for Gajira Garden 4th Cross Street

Gajira Garden 4th Cross Street guideline value

The current guideline value of Gajira Garden 4th 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 4th Cross Street has changed

The guideline value for Gajira Garden 4th Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. This was a decline of 33%. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then rose again to Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 11%. 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 that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Gajira Garden 4th Cross Street's 2024 figure above that median.

• Gajira Garden 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 2nd Main Road: Rs 3,900 per sq.ft (2024)
• Gajira Garden 6th Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 1st Main Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gajira Garden 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gajira Garden 4th Cross Street?

The Gajira Garden 4th Cross Street falls under 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 a critical factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is important to consider the guideline value in conjunction with the actual sale price, as the higher of the two will be used to calculate the applicable duties and fees during the registration process.

Frequently asked questions

What is the current guideline value of Gajira Garden 4th Cross Street?

The current guideline value of Gajira Garden 4th 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 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 for Gajira Garden 4th Cross Street?

Gajira Garden 4th Cross Street is classified as Residential Class I Type - II.

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

Other streets in Neelankarai with the same guideline value of Rs 3,900 per sq.ft include Gajira Garden 3rd Cross Street, Gajira Garden 5th Cross Street, Gajira Garden 2nd Main Road, Gajira Garden 6th Cross Street, Gajira Garden 2nd Cross Street, and Gajira Garden 1st Main Road.

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.