Guideline Value for Gayathiri Nagar

Gayathiri Nagar guideline value

The current guideline value of Gayathiri Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gayathiri Nagar has changed

Over the years, the guideline value for Gayathiri Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has set it at Rs 1,300 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Gayathiri Nagar's 2024 figure below that median.

• Gannesan Nagar: Rs 1,600 per sq.ft (2024)
• Gayathri Nagar,Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Gemini Nagar st ( Ward No.14 ): Rs 1,300 per sq.ft (2024)
• Gemini Ss Vasan Street (Ward-10): Rs 1,300 per sq.ft (2024)
• Gemini Vasan St (Ward-14): Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil St ( Ward No.7 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gayathiri Nagar?

The Sub Registrar Office that covers Gayathiri Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duties. The guideline value serves as a benchmark for the minimum value at which property transactions can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. The guideline value is regularly updated, reflecting changes in the real estate market and local development.

Frequently asked questions

What is the current guideline value of Gayathiri Nagar?

The current guideline value of Gayathiri Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Gayathiri Nagar?

The land classification for Gayathiri Nagar is Residential Class III Type - I.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Gayathiri Nagar?

The Madhavaram Sub Registrar Office handles property registrations in Gayathiri Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.