Guideline Value for Gayathri Garden-Sudarsan Nagar

Gayathri Garden-Sudarsan Nagar guideline value

The current guideline value for Gayathri Garden-Sudarsan 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 Garden-Sudarsan Nagar has changed

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,600 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

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, with a median value of Rs 2,400 per sq.ft. The guideline value for Gayathri Garden-Sudarsan Nagar is below this median.

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

Stamp duty and registration fee for property in Gayathri Garden-Sudarsan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gayathri Garden-Sudarsan Nagar?

The Gayathri Garden-Sudarsan 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 crucial factor when registering property in Madambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction reflects a fair value.

When buying or selling property, the guideline value affects the stamp duty and registration fees that must be paid. These fees are calculated based on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Gayathri Garden-Sudarsan Nagar?

The current guideline value for Gayathri Garden-Sudarsan 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 unchanged at Rs 1,600 per sq.ft from 2012 to 2023. However, it increased to Rs 1,700 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

What is the land classification for Gayathri Garden-Sudarsan Nagar?

Gayathri Garden-Sudarsan Nagar is classified as Residential Class I Type - II.

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

For a property valued at 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, totaling Rs 1,53,000.

Which Sub Registrar Office should I approach for transactions in Gayathri Garden-Sudarsan Nagar?

The Selaiyur Sub Registrar Office covers Gayathri Garden-Sudarsan Nagar. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.