Guideline Value for Gayathri Nagar

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Gayathri Nagar has changed

Over the years, the guideline value for Gayathri Nagar has seen significant changes. In 2003, the guideline value was Rs 33 per sq.ft, which increased to Rs 200 per sq.ft in 2007, marking a 506% rise. The value then reached Rs 400 per sq.ft in 2012, but saw a decrease of 33% to Rs 268 per sq.ft in 2017. Following this, the value increased to Rs 400 per sq.ft in 2023, and finally, it is set at Rs 440 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for Gayathri Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1233%.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Gayathri Nagar is below this median.

• E.V.R. Periyar Street: Rs 880 per sq.ft (2024)
• Elango Street: Rs 660 per sq.ft (2024)
• Indra Nagar: Rs 660 per sq.ft (2024)
• Iswariya Nagar: Rs 440 per sq.ft (2024)
• Jamuna Nagar: Rs 440 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Gayathri Nagar?

The Sub Registrar Office that covers Gayathri Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Grandlyon, as it is used to determine the stamp duty and registration fees. When buying or selling property, the guideline value is considered the minimum value for registration purposes, ensuring that the transaction is recorded accurately.

Additionally, the guideline value helps in maintaining transparency in property transactions. It serves as a benchmark for both buyers and sellers, ensuring that property prices are aligned with the values set by the government.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 440 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 33 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1233% over the years.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Gayathri Nagar?

The Redhills Sub Registrar Office covers Gayathri Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Gayathri Nagar?

Gayathri Nagar is classified as Residential Class III Type - I according to the land classification guidelines.