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 Kerugambakkam village, under the Pammal Sub Registrar Office (SRO) jurisdiction. The land classification for this locality is Residential Class II Type - II.

How the guideline value of Gayathri Nagar has changed

The guideline value for Gayathri Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Gayathri Nagar's 2024 figure is below the median.

• Gangaiamman Koil Street: Rs 1,980 per sq.ft (2024)
• Gandhi Street: Rs 1,650 per sq.ft (2024)
• Friends Avenue: Rs 3,450 per sq.ft (2024)
• Guru Heera Nagar: Rs 4,190 per sq.ft (2024)
• E.V.R Periyar Street: Rs 1,980 per sq.ft (2024)
• Eswari Garden: Rs 1,980 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 cost for stamp duty and registration 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Gayathri Nagar?

The Sub Registrar Office that covers Gayathri Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Kerugambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it directly influences the costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

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 much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Gayathri Nagar?

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

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

The Sub Registrar Office for Gayathri Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office falls under the Chengalpattu registration zone.

How is stamp duty calculated for property in Gayathri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at a rate of 7%.