Guideline Value for Gayathri Nagar 2nd Cross Street

Gayathri Nagar 2nd Cross Street guideline value

The current guideline value of Gayathri Nagar 2nd Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Gayathri Nagar 2nd Cross Street has changed

Over the years, the guideline value for Gayathri Nagar 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 2,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 2,400 per sq.ft, which is a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 9% from the 2012 revision to the current 2024 figure.

Guideline values in Chembakkam

In Chembakkam, there are a total of 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gayathri Nagar 2nd Cross Street's 2024 value above this median.

• Gayathri Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 4th Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value comes to Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total charges to 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 Nagar 2nd Cross Street?

The Sub Registrar Office that covers Gayathri Nagar 2nd Cross Street 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 Chembakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gayathri Nagar 2nd Cross Street?

The current guideline value of Gayathri Nagar 2nd Cross Street 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 changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,400 per sq.ft.

What is the land classification for Gayathri Nagar 2nd Cross Street?

The land classification for Gayathri Nagar 2nd Cross Street is Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in Chembakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,00,000 would incur a stamp duty of Rs 1,68,000 at 7%.