Guideline Value for Gayathri Garden

Gayathri Garden guideline value

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

How the guideline value of Gayathri Garden has changed

The guideline value of Gayathri Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 has seen a significant increase to Rs 1,700 per sq.ft, reflecting a rise of 59% from the 2017 figure.

From the 2012 to 2024 revisions, the overall change is a modest increase of 6%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 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. The median value for these streets is Rs 2,400 per sq.ft, indicating that Gayathri Garden's 2024 value is below the median.

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

Stamp duty and registration fee for property in Gayathri Garden

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, making the total charges Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your charges using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathri Garden?

The Gayathri Garden 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, 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 crucial factor during property registration in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a value that reflects the official rates set by the government, thereby facilitating a transparent and standardized process.

Frequently asked questions

What is the current guideline value of Gayathri Garden?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,600 per sq.ft to Rs 1,700 per sq.ft in 2024, with a notable decline to Rs 1,072 per sq.ft in 2017 before the increase in 2024.

What is the land classification of Gayathri Garden?

Gayathri Garden is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for properties in Gayathri Garden?

The stamp duty for properties in Gayathri Garden is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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.