Guideline Value for Gayathri Nagar 6th Street

Gayathri Nagar 6th Street guideline value

The current guideline value for Gayathri Nagar 6th 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 the land classification is Residential Special Type - I.

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

The guideline value for Gayathri Nagar 6th Street has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it saw a decrease to Rs 1,474 per sq.ft in 2017. The value then rose again to Rs 2,200 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,400 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 9% increase. Notably, the value surged by 633% from 2007 to 2012, and overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Gayathri Nagar 6th Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total fees together Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gayathri Nagar 6th Street?

The Sub Registrar Office that covers Gayathri Nagar 6th 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 an important factor during the registration of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the sale process.

When registering a property, 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 Chembakkam.

Frequently asked questions

What is the current guideline value of Gayathri Nagar 6th Street?

The current guideline value of Gayathri Nagar 6th 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, reflecting a significant increase of 700% over this period.

What is the land classification for Gayathri Nagar 6th Street?

The land classification for Gayathri Nagar 6th Street is Residential Special Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on 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 total fees can amount to Rs 2,16,000.