Guideline Value for Gayathri Nagar 5th Street

Gayathri Nagar 5th Street guideline value

The current guideline value for Gayathri Nagar 5th 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 5th Street has changed

The guideline value for Gayathri Nagar 5th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, this figure dropped to Rs 1,474 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,200 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 700%. The revisions for the years 2002 and 2003 do not have figures listed for Gayathri Nagar 5th Street in the register.

Guideline values in Chembakkam

In Chembakkam, there are 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, making the 2024 figure for Gayathri Nagar 5th Street above that median.

• Gayathri Nagar 5th Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 6th Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 7th Cross Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total 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, bringing the total fees 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.

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

Which Sub Registrar Office covers Gayathri Nagar 5th Street?

The Sub Registrar Office that covers Gayathri Nagar 5th 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 the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, 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 for Gayathri Nagar 5th Street?

The current guideline value for Gayathri Nagar 5th 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 300 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking a total increase of 700% over the years.

What is the median guideline value in Chembakkam?

The median guideline value for the streets in Chembakkam is Rs 2,200 per sq.ft, with Gayathri Nagar 5th Street's 2024 figure being above this median.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Gayathri Nagar 5th Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Gayathri Nagar 5th Street?

The Selaiyur Sub Registrar Office covers Gayathri Nagar 5th Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.