Guideline Value for Gayathri Nagar

Gayathri Nagar guideline value

The current guideline value of Gayathri Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO, classified as Residential Class I Type - III.

How the guideline value of Gayathri Nagar has changed

The guideline value has undergone several revisions over the years. The earliest recorded figure for Gayathri Nagar was Rs 300 per sq.ft in 2007. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,800 per sq.ft in 2023, followed by a further rise to the current rate of Rs 1,980 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, positioning Gayathri Nagar's 2024 figure below this median.

• Ganesh Nagar: Rs 1,980 per sq.ft (2024)
• Gandhi Salai: Rs 1,960 per sq.ft (2024)
• Gopal Nagar: Rs 2,750 per sq.ft (2024)
• Gopal Nagar 1 To 5 Streets: Rs 1,980 per sq.ft (2024)
• Govindaswamy Nagar: Rs 1,960 per sq.ft (2024)
• G.P. Samy Nagar Layout: Rs 3,300 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Gayathri Nagar?

The current guideline value of Gayathri Nagar is Rs 1,980 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 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the stamp duty rate for properties in Gayathri Nagar?

The stamp duty rate for properties in Gayathri Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Gayathri Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the guideline values of other streets in Nanmangalam?

Other streets in Nanmangalam have guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft.