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 Palnalloor village, under the Sunguvarchattram SRO, and is classified as Residential Class II 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 earliest available figure is from 2007, when the value was Rs 80 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a significant rise of 150%. However, in 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. The guideline value then rose again to Rs 200 per sq.ft in 2023 and has remained the same in the 2024 revision, indicating no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 150%. Notably, there are no figures available for the revisions in 2002 and 2003 for Gayathiri Nagar.

Guideline values in Palnalloor

In Palnalloor village, there are 34 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 175 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the current guideline value of Gayathiri Nagar.

• Greenwood Garden: Rs 200 per sq.ft (2024)
• Jemi Housing: Rs 200 per sq.ft (2024)
• Colony School Street: Rs 175 per sq.ft (2024)
• Kalashetra Nagar: Rs 200 per sq.ft (2024)
• Bharathi Nagar: Rs 200 per sq.ft (2024)
• BalaVinayagar Street: Rs 175 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 amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost 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 our 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Palnalloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is used to calculate the applicable taxes, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

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?

The guideline value has changed multiple times, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the classification of land in Gayathiri Nagar?

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

Where is the Sub Registrar Office for Gayathiri Nagar located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in Gayathiri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.