Guideline Value for Gayathri Street

Gayathri Street guideline value

The current guideline value of Gayathri Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Gayathri Street has changed

Over the years, the guideline value of Gayathri Street has seen significant changes. In the 2002 revision, the guideline value was Rs 144 per sq.ft. This increased to Rs 162 per sq.ft in 2003, marking a 13% rise. The value then surged to Rs 1,000 per sq.ft in 2007, reflecting a remarkable increase of 517%. Following this, the 2012 revision saw a decrease to Rs 2,500 per sq.ft, which was a drop of 33%. The value then rose again to Rs 1,675 per sq.ft in 2017, showing a 49% increase. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,800 per sq.ft, an increase of 12%.

There are no figures available for the revisions prior to 2002 or any revisions between the years listed. The overall change from 2002 to 2024 is an increase of 1,844%.

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 guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the 2024 guideline value for Gayathri Street.

• Gayathri Nagar: 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 Street

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 these fees would be Rs 2,52,000. 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 Street?

The Sub Registrar Office that covers Gayathri Street 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 is a crucial factor 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 legal requirements during the transaction.

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 Street?

The current guideline value of Gayathri Street 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 significantly from Rs 144 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,844% over this period.

What is the land classification for Gayathri Street?

Gayathri Street is classified under Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is 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 higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000.