Guideline Value for Gayathiri Colony ( Gayathiri Nagar )

Gayathiri Colony ( Gayathiri Nagar ) guideline value

The current guideline value of Gayathiri Colony ( Gayathiri Nagar ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Gayathiri Colony ( Gayathiri Nagar ) has changed

The guideline value of Gayathiri Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 233%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then saw a notable increase to Rs 2,000 per sq.ft in 2023, reflecting a rise of 49% from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with the median value being Rs 2,200 per sq.ft. The guideline value of Gayathiri Colony ( Gayathiri Nagar ) is equal to this median.

• Gayathri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Gangai Street: Rs 2,200 per sq.ft (2024)
• Godhataraman Street: Rs 880 per sq.ft (2024)
• Gothavari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathiri Colony ( Gayathiri Nagar )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathiri Colony ( Gayathiri Nagar )?

The Sub Registrar Office that covers Gayathiri Colony ( Gayathiri Nagar ) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Irumpuliyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they are complying with the legal requirements during the property transaction process. This helps in avoiding any potential disputes or issues that may arise due to incorrect valuation.

Frequently asked questions

What is the current guideline value of Gayathiri Colony ( Gayathiri Nagar )?

The current guideline value of Gayathiri Colony ( Gayathiri Nagar ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for property in Gayathiri Colony?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Gayathiri Colony?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Gayathiri Colony, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Gayathiri Colony?

The land classification for Gayathiri Colony ( Gayathiri Nagar ) is Residential Special Type - II.