Guideline Value for Gayathri Nagar-Gayathri Garden

Gayathri Nagar-Gayathri Garden guideline value

The current guideline value for Gayathri Nagar-Gayathri Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Gayathri Nagar-Gayathri Garden has changed

The guideline value for Gayathri Nagar-Gayathri Garden has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft. Prior to this, the 2017 revision had a value of Rs 1,072 per sq.ft, marking a significant increase of 59%. In 2012, the value was Rs 1,600 per sq.ft, which saw a decrease of 33% by 2017. Overall, from 2012 to 2024, the guideline value increased by 6%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this particular street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Gayathri Nagar-Gayathri Garden is below this median.

• Gayathri Nagar: Rs 1,700 per sq.ft (2024)
• Gayathri Garden-Sudarsan Nagar: Rs 1,700 per sq.ft (2024)
• Gayathri Garden Main Road: Rs 1,700 per sq.ft (2024)
• Gayathri Garden Cross Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden 1st Street: Rs 1,700 per sq.ft (2024)
• Gayathri Garden 1st Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar-Gayathri Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gayathri Nagar-Gayathri Garden?

The Gayathri Nagar-Gayathri Garden area 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 details.

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

The guideline value plays a crucial role when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the property transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official registers. This is essential for maintaining transparency and legal integrity in property dealings.

Frequently asked questions

What is the current guideline value for Gayathri Nagar-Gayathri Garden?

The current guideline value for Gayathri Nagar-Gayathri Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, and then to Rs 1,700 per sq.ft in 2024. This represents a 59% increase from 2017 to 2024 and a decrease of 33% from 2012 to 2017.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Gayathri Nagar-Gayathri Garden?

The Selaiyur Sub Registrar Office covers Gayathri Nagar-Gayathri Garden. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification for Gayathri Nagar-Gayathri Garden?

The land classification for Gayathri Nagar-Gayathri Garden is Residential Class I Type - II, indicating its suitability for residential development.