Guideline Value for Gayathiri Nagar

Gayathiri Nagar guideline value

The current guideline value of Gayathiri Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vallam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Gayathiri Nagar has changed

The guideline value for Gayathiri Nagar has seen several revisions over the years. The 2007 revision recorded a value of Rs 30 per sq.ft, which increased significantly to Rs 200 per sq.ft in the 2012 revision. However, it dropped to Rs 134 per sq.ft in 2017, before rising again to Rs 200 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 567%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Vallam

Vallam village has a total of 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Gayathiri Nagar's 2024 figure at the median.

• Gandhi Nagar: Rs 300 per sq.ft (2024)
• Gowtham Nagar: Rs 600 per sq.ft (2024)
• Gowtham Nagar Extn-IV: Rs 600 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Green Holiday Resorts: Rs 300 per sq.ft (2024)
• Highway: Rs 601 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gayathiri Nagar?

The Sub Registrar Office that covers Gayathiri Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Vallam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with the legal requirements associated with property transactions.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, which can affect the overall cost of the transaction. Therefore, understanding the guideline value is essential for anyone involved in property transactions in Vallam.

Frequently asked questions

What is the current guideline value of Gayathiri Nagar?

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

How has the guideline value changed over the years?

From 2007 to 2024, the guideline value increased from Rs 30 per sq.ft to Rs 200 per sq.ft, reflecting an overall increase of 567%. The value has remained the same at Rs 200 per sq.ft since the 2012 revision.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 18,000.

Which Sub Registrar Office covers Gayathiri Nagar?

The Sriperumpudur Sub Registrar Office covers Gayathiri Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Gayathiri Nagar?

Gayathiri Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.