Guideline Value for Gayathri Nagar 6th Cross Street

Gayathri Nagar 6th Cross Street guideline value

The current guideline value of Gayathri Nagar 6th 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, and is classified as Residential Special Type - I.

How the guideline value of Gayathri Nagar 6th Cross Street has changed

Over the years, the guideline value for Gayathri Nagar 6th Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was later reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest revision in 2024 raised it to Rs 2,400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 represents a 9% increase, and overall, from 2012 to 2024, there has been a net increase of 9%.

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, placing Gayathri Nagar 6th Cross Street above this median value.

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

Stamp duty and registration fee for property in Gayathri Nagar 6th Cross 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, charged at 7%, would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for these fees would be 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 information.

Which Sub Registrar Office covers Gayathri Nagar 6th Cross Street?

The Gayathri Nagar 6th Cross Street falls under 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 details.

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

The guideline value is a crucial factor during property transactions in Chembakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must adhere to this value to ensure compliance with local regulations during the registration process.

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 of Gayathri Nagar 6th Cross Street?

The current guideline value of Gayathri Nagar 6th 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 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value for the 472 streets in Chembakkam is Rs 2,200 per sq.ft, which is lower than the current value of Gayathri Nagar 6th Cross Street.

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

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,00,000, the total fees would amount to Rs 2,16,000.

Which office handles registrations for Gayathri Nagar 6th Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Gayathri Nagar 6th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.