Guideline Value for Gayathri Nagar 7th Cross Street

Gayathri Nagar 7th Cross Street guideline value

The current guideline value of Gayathri Nagar 7th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Gayathri Nagar 7th Cross Street has changed

The guideline value for Gayathri Nagar 7th Cross Street has undergone several revisions over the years. The most recent revision in 2024 increased the value to Rs 2,700 per sq.ft, up from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the value was Rs 1,675 per sq.ft in 2017, which reflects a significant increase of 49% over the six years.

In 2012, the guideline value was Rs 2,500 per sq.ft, which was a decrease of 33% from the previous value in 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not have 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, with a median value of Rs 2,200 per sq.ft. The guideline value of Gayathri Nagar 7th Cross Street is above this median.

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

Stamp duty and registration fee for property in Gayathri Nagar 7th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 7th Cross Street?

The Gayathri Nagar 7th Cross Street is covered by 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 value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Gayathri Nagar 7th Cross Street?

The current guideline value of Gayathri Nagar 7th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, which shows a 49% increase from that year to 2023.

What is the classification of Gayathri Nagar 7th Cross Street?

Gayathri Nagar 7th Cross Street is classified as Residential Class I Type - III under the Selaiyur SRO.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

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.