Guideline Value for Gayathri Nagar

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, which is an increase from the 2023 revision of Rs 1,600 per sq.ft. Notably, there was no change in the value from the 2012 revision, which also recorded Rs 1,600 per sq.ft. Additionally, the register has no figures for the revisions in 2017, 2007, 2003, and 2002 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a 6% increase in the guideline value. The change from 2023 to 2024 reflects a 6% increase as well.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Gayathri Nagar is below this median.

• Gayathri Garden-Sudarsan Nagar: Rs 1,700 per sq.ft (2024)
• Gayathri Garden Main Road: Rs 1,700 per sq.ft (2024)
• Gayathri Garden Cross Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden 1st Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. 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 Gayathri Nagar?

The Sub Registrar Office that covers Gayathri Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the total cost involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,600 per sq.ft from 2012 to 2023 and increased to Rs 1,700 per sq.ft in 2024. There was no recorded figure for the revisions in 2017, 2007, 2003, and 2002.

What is the land classification of Gayathri Nagar?

Gayathri Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Gayathri Nagar?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gayathri Nagar located?

The Selaiyur Sub Registrar Office, which covers Gayathri Nagar, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.