Guideline Value for Gayathri Nagar 5th Street

Gayathri Nagar 5th Street guideline value

The current guideline value of Gayathri Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

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

The guideline value for Gayathri Nagar 5th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, up from Rs 2,000 per sq.ft in 2023, reflecting a 10% increase. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no recorded figures for this street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Gayathri Nagar 5th Street.

• Gayathri Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar 3rd 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Gayathri Nagar 5th 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 specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

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

The current guideline value of Gayathri Nagar 5th 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 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including Rs 2,000 per sq.ft in 2023 and 2012.

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

Gayathri Nagar 5th Street is classified as Residential Special Type - II.

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

The Sub Registrar Office for Gayathri Nagar 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Gayathri Nagar 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,54,000.