Guideline Value for Gayathri Nagar

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar, located in Ullagaram village under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 144 per sq.ft. It increased to Rs 162 per sq.ft in 2003, marking a 13% rise. The following revisions saw significant changes, with the value jumping to Rs 1,000 per sq.ft in 2007, a remarkable increase of 517%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a 150% increase from the previous revision. However, it then decreased by 33% to Rs 1,675 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose significantly to Rs 2,500 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year. There are no figures available for the revisions in years not listed for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value for Gayathri Nagar.

• Gayathri Street: Rs 2,800 per sq.ft (2024)
• Giri Street: Rs 2,800 per sq.ft (2024)
• Gopalakrishnan Gokale Street: Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 2,200 per sq.ft (2024)
• Gopinathan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 2nd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gayathri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration would be Rs 2,52,000. It is important to note that 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?

The Sub Registrar Office that covers Gayathri Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, 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 the area.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 144 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1844% over the years.

What is the land classification of Gayathri Nagar?

Gayathri Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Gayathri Nagar?

The Sub Registrar Office for Gayathri Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.