Guideline Value for Gayathri Avenue

Gayathri Avenue guideline value

The current guideline value of Gayathri Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gayathri Avenue has changed

The guideline value for Gayathri Avenue has undergone several revisions since 2002. In 2002, the guideline value was Rs 1,194 per sq.ft, which decreased to Rs 120 per sq.ft in 2003. Following this, the value increased significantly to Rs 300 per sq.ft in 2007, and further rose to Rs 800 per sq.ft in 2012. However, it then dropped to Rs 536 per sq.ft in 2017. The most recent revisions before 2024 were Rs 1,000 per sq.ft in 2023, and the current rate is Rs 1,100 per sq.ft as of 2024.

Between these revisions, changes varied significantly. From 2002 to 2003, there was a decrease of 90%. The value increased by 150% from 2003 to 2007, followed by a rise of 167% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and increased by 87% from 2017 to 2023. The change from 2023 to 2024 is an increase of 10%. Overall, from 2002 to 2024, the guideline value has decreased by 8%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value for Gayathri Avenue is below this median.

• G.N.T. Road: Rs 3,300 per sq.ft (2024)
• G.N.T. Road Check Post: Rs 3,300 per sq.ft (2024)
• Gangadharan Street: Rs 1,650 per sq.ft (2024)
• Gangadharan 1st Street: Rs 1,650 per sq.ft (2024)
• Gangadaran Street: Rs 1,650 per sq.ft (2024)
• Gandhi Street Pradhana Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 information on fees.

Which Sub Registrar Office covers Gayathri Avenue?

The Sub Registrar Office that covers Gayathri Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

When buying or selling property in Puzhal, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value can help in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of Gayathri Avenue?

The current guideline value of Gayathri Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,194 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Gayathri Avenue?

The registration office for Gayathri Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Gayathri Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at a rate of 7%.

What is the land classification for Gayathri Avenue?

Gayathri Avenue is classified as Residential Class II Type - I, which is important for understanding the zoning and usage regulations for the area.