Guideline Value for Gayathri Nagar 3rd Street

Gayathri Nagar 3rd Street guideline value

The current guideline value of Gayathri Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gayathri Nagar 3rd Street has changed

The guideline value for Gayathri Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later revised to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% rise from the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Gayathri Nagar 3rd Street.

• Gayathri Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Gayathiri Colony ( Gayathiri Nagar ): Rs 2,200 per sq.ft (2024)
• Gangai Street: Rs 2,200 per sq.ft (2024)
• Godhataraman Street: Rs 880 per sq.ft (2024)
• Gothavari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gayathri Nagar 3rd Street?

The Sub Registrar Office that covers Gayathri Nagar 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the official value of the property, which is essential for a transparent transaction.

Frequently asked questions

What is the current guideline value of Gayathri Nagar 3rd Street?

The current guideline value of Gayathri Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Gayathri Nagar 3rd Street?

The land classification for Gayathri Nagar 3rd Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Gayathri Nagar 3rd Street?

The Sub Registrar Office for Gayathri Nagar 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Gayathri Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, the duty for a property valued at Rs 22,00,000 would be Rs 1,54,000 at a rate of 7%.