Guideline Value for Gayathri Street

Gayathri Street guideline value

The current guideline value of Gayathri Street in Peerklankaranai village, under the Tambaram Joint 1 SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - I.

How the guideline value of Gayathri Street has changed

The guideline value for Gayathri Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase from Rs 1,800 per sq.ft in 2023, marking a change of +10%. Looking back further, the value was Rs 1,206 per sq.ft in 2017, indicating a significant increase of +49% to the 2023 figure. In 2012, the value was Rs 1,800 per sq.ft, which reflects a decrease of -33% to the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Gayathri Street's 2024 value above this median.

• Gokulam Street: Rs 2,200 per sq.ft (2024)
• Gandhi St Vard 8th: Rs 1,980 per sq.ft (2024)
• Gandhi St: Rs 1,320 per sq.ft (2024)
• Gandhi Road: Rs 1,980 per sq.ft (2024)
• G.S.T. Road: Rs 4,400 per sq.ft (2024)
• Erikkarai Salai to Sri Ram Nagar: Rs 1,100 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling 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 information.

Which Sub Registrar Office covers Gayathri Street?

The Sub Registrar Office that covers Gayathri Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Peerklankaranai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This value is essential for ensuring that the transaction is registered correctly with the local authorities.

When buying or selling property, the guideline value helps in establishing a fair basis for the pricing of the property. It ensures that both the buyer and seller are aware of the statutory obligations regarding taxes and fees associated with the property transfer.

Frequently asked questions

What is the current guideline value of Gayathri Street?

The current guideline value of Gayathri Street 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 from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, a +10% increase. The value was Rs 1,206 per sq.ft in 2017, and Rs 1,800 per sq.ft in 2012.

What is the land classification for Gayathri Street?

The land classification for Gayathri Street is Residential Class I Type - I.

Where is the Sub Registrar Office located for Gayathri Street?

The Sub Registrar Office for Gayathri Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties on Gayathri Street?

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