Guideline Value for Gayathri Nagar 5th Cross Street

Gayathri Nagar 5th Cross Street guideline value

The current guideline value of Gayathri Nagar 5th Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Gayathri Nagar 5th Cross Street has changed

The guideline value for Gayathri Nagar 5th Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,200 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

In summary, the changes between revisions show a 49% increase from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 value is Rs 2,200 per sq.ft, placing Gayathri Nagar 5th Cross Street's 2024 figure above this median.

• Gayathri Nagar 5th Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 6th Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be 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 details.

Which Sub Registrar Office covers Gayathri Nagar 5th Cross Street?

The Sub Registrar Office that covers Gayathri Nagar 5th 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 information.

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

The guideline value is a crucial factor when buying or selling property in Chembakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gayathri Nagar 5th Cross Street?

The current guideline value of Gayathri Nagar 5th 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 2023 to Rs 2,400 per sq.ft in 2024, a 9% increase. It was Rs 1,474 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Gayathri Nagar 5th Cross Street?

Gayathri Nagar 5th Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 2,16,000.

Which office handles the registration for Gayathri Nagar 5th Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Gayathri Nagar 5th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.