Guideline Value for Gayathri Nagar North Street

Gayathri Nagar North Street guideline value

The current guideline value of Gayathri Nagar North Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Gayathri Nagar North Street has changed

The guideline value for Gayathri Nagar North Street has seen significant changes over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 3,500 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 3,850 per sq.ft in 2024.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 rate, the guideline value has increased by 450%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Gayathri Nagar North Street's current guideline value is above this median.

• Gayathri Nagar South Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar West Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar East Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar: Rs 3,850 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,650 per sq.ft (2024)
• Ganesh Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. 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 North Street?

The Gayathri Nagar North Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Hastinapuram

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established rates for the area.

Frequently asked questions

What is the current guideline value of Gayathri Nagar North Street?

The current guideline value of Gayathri Nagar North Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Gayathri Nagar North Street?

The Pallavaram Sub Registrar Office handles registrations for Gayathri Nagar North Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Gayathri Nagar North Street?

The land classification for Gayathri Nagar North Street is Mixed Type - II, which indicates the type of usage permitted in the area.