Guideline Value for Gayathri Nagar West Street

Gayathri Nagar West Street guideline value

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

How the guideline value of Gayathri Nagar West Street has changed

The guideline value for Gayathri Nagar West Street has seen significant revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% drop. The value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft from the 2024 revision, representing a 10% increase from the previous year.

Notably, there are no figures available for Gayathri Nagar West Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Hastinapuram

In Hastinapuram, there are a total of 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 the median value being Rs 2,970 per sq.ft. The guideline value for Gayathri Nagar West Street is above this median.

• Gayathri Nagar South Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar North 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gayathri Nagar West Street?

The Sub Registrar Office covering Gayathri Nagar West Street is 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Hastinapuram. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the fees.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the correct fees are paid during the property registration process. It also provides a standard measure for valuing properties in the area.

Frequently asked questions

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

The current guideline value of Gayathri Nagar West 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 significantly, from Rs 700 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 450%.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, with Gayathri Nagar West Street's value being above this median.

What are the stamp duty and registration fees for property in Gayathri Nagar West Street?

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.

Where is the Sub Registrar Office located for Gayathri Nagar West Street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.