Guideline Value for Gayathri Avenue

Gayathri Avenue guideline value

The current guideline value of Gayathri Avenue in Madambakkam village, under the Selaiyur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Gayathri Avenue has changed

The guideline value for Gayathri Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, an increase from the 2023 revision of Rs 2,200 per sq.ft. Notably, there was no change between the 2012 and 2023 revisions, as both were set at Rs 2,200 per sq.ft. Overall, from 2012 to 2024, the guideline value increased by 9%.

Prior to 2012, the register shows no figures for Gayathri Avenue in the years 2002, 2003, 2007, and 2017. Therefore, the first recorded value for this street is from the 2012 revision, which has remained unchanged until 2023.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which aligns with the current value for Gayathri Avenue.

• Gayathri Avenue-Dhanush Nagar: Rs 1,700 per sq.ft (2024)
• Gayathri Avenue-Jayaprakash Narayanan Nagar: Rs 1,700 per sq.ft (2024)
• Gayathri Garden: Rs 1,700 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value is Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for these fees would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathri Avenue?

The Sub Registrar Office that covers Gayathri Avenue is 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 details.

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

The guideline value is a crucial factor during property registration in Madambakkam. 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. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gayathri Avenue?

The current guideline value of Gayathri Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. There was no change in the value between the 2012 and 2023 revisions.

What is the land classification for Gayathri Avenue?

Gayathri Avenue is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for a property in Gayathri Avenue?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000 in fees.

Where is the Sub Registrar Office for Gayathri Avenue 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.