Guideline Value for Gayathiri Nagar

Gayathiri Nagar guideline value

The current guideline value of Gayathiri Nagar, located in Ponthoor village under the Sriperumpudur SRO, is Rs 300 per sq.ft as per the 2024 revision 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 of Gayathiri Nagar has seen several revisions. In 2007, the guideline value was Rs 70 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The value then rose to Rs 300 per sq.ft in 2023, and remained unchanged in the 2024 revision, resulting in a 49% increase from the 2017 figure.

The register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 has been an increase of 329%.

Guideline values in Ponthoor

In Ponthoor village, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,239 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value of Gayathiri Nagar matches this median.

• Green Homes: Rs 600 per sq.ft (2024)
• Erikkarai Street: Rs 300 per sq.ft (2024)
• Irular Street: Rs 200 per sq.ft (2024)
• Iruvatchi Poo Street: Rs 200 per sq.ft (2024)
• Jayanthi Nagar: Rs 402 per sq.ft (2024)
• JBM Garden: Rs 1,500 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 details.

Which Sub Registrar Office covers Gayathiri Nagar?

The Gayathiri Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Ponthoor. It is used to determine the stamp duty and registration fees when a property is sold or purchased. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers in Ponthoor, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Gayathiri Nagar?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 70 per sq.ft to Rs 300 per sq.ft in 2024, with various changes occurring in between, including a decrease from 2012 to 2017.

What is the land classification for Gayathiri Nagar?

Gayathiri Nagar is classified as Residential Class III Type - I, which is relevant for determining the guideline value.

How is stamp duty calculated for properties in Gayathiri Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 21,000.

Where can I find the Sub Registrar Office for Gayathiri Nagar?

The Sub Registrar Office covering Gayathiri Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the provided link.