Guideline Value for Gayathri Nagar 2nd Street

Gayathri Nagar 2nd Street guideline value

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

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

The guideline value for Gayathri Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 633%. However, from 2012 to 2017, the value decreased to Rs 1,474 per sq.ft, reflecting a drop of 33%. The value then rose sharply to Rs 2,200 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value 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 the 2024 value of Gayathri Nagar 2nd Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be 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, totaling Rs 2,16,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Gayathri Nagar 2nd Street?

The Sub Registrar Office that covers Gayathri Nagar 2nd 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 information.

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

The guideline value is a crucial factor in property transactions in Chembakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

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

Frequently asked questions

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

The current guideline value of Gayathri Nagar 2nd 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 significantly, from Rs 300 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 700% over the years.

What are the registration fees for property in Gayathri Nagar 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%, which are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I contact for Gayathri Nagar 2nd Street?

The Selaiyur Sub Registrar Office covers Gayathri Nagar 2nd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

Are there other streets in Chembakkam with the same guideline value?

Yes, there are several other streets in Chembakkam that share the same guideline value of Rs 2,400 per sq.ft, including Gayathri Nagar 1st Street, Gayathri Nagar 2nd Cross Street, and others.