Guideline Value for Gayathri Avenue-Jayaprakash Narayanan Nagar

Gayathri Avenue-Jayaprakash Narayanan Nagar guideline value

The current guideline value of Gayathri Avenue-Jayaprakash Narayanan Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Gayathri Avenue-Jayaprakash Narayanan Nagar has changed

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 1,700 per sq.ft, which represents a rise of 59%. Overall, from 2012 to 2024, there has been a slight increase of 6% in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Gayathri Avenue-Jayaprakash Narayanan Nagar's 2024 figure below that median.

• Gayathri Avenue-Dhanush Nagar: Rs 1,700 per sq.ft (2024)
• Gayathri Garden: Rs 1,700 per sq.ft (2024)
• Gayathri Avenue: Rs 2,400 per sq.ft (2024)
• Gayathri Garden 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden 1st Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Avenue-Jayaprakash Narayanan 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 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.

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

Which Sub Registrar Office covers Gayathri Avenue-Jayaprakash Narayanan Nagar?

The Gayathri Avenue-Jayaprakash Narayanan Nagar area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the final sale price must be equal to or higher than the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Gayathri Avenue-Jayaprakash Narayanan Nagar?

The current guideline value of Gayathri Avenue-Jayaprakash Narayanan 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 seen various changes, starting from Rs 1,600 per sq.ft in 2012, dropping to Rs 1,072 per sq.ft in 2017, and rising back to Rs 1,700 per sq.ft in 2024.

What is the land classification of Gayathri Avenue-Jayaprakash Narayanan Nagar?

Gayathri Avenue-Jayaprakash Narayanan Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Selaiyur Sub Registrar Office located?

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