Guideline Value for SRI GAYATHRI CO-OPERATIVE MEGA NAGAR

Sri Gayathri Co-Operative Mega Nagar guideline value

The current guideline value of Sri Gayathri Co-Operative Mega Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Naduveerapattu village and falls under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Sri Gayathri Co-Operative Mega Nagar has changed

The guideline value for Sri Gayathri Co-Operative Mega Nagar has undergone several revisions over the years. In 2017, the value was Rs 402 per sq.ft, which increased to Rs 600 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 660 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, 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. The changes observed between the revisions highlight a significant rise in the guideline value, particularly between 2017 and 2023, where it increased by 49%.

Guideline values in Naduveerapattu

In Naduveerapattu, there are 96 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the guideline value of Sri Gayathri Co-Operative Mega Nagar.

• Sri Gayathri Mega Nagar: Rs 660 per sq.ft (2024)
• Sri Durga Nagar: Rs 440 per sq.ft (2024)
• Sri Balaji Nagar: Rs 770 per sq.ft (2024)
• Sri Mega City M M Nagar - I, S.No.211/1a1a, 1a2a, 1a2b: Rs 550 per sq.ft (2024)
• Soosaiyappar Street: Rs 660 per sq.ft (2024)
• Sri Sabari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gayathri Co-Operative Mega Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Gayathri Co-Operative Mega Nagar?

The Sri Gayathri Co-Operative Mega Nagar falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the fees are based on a value that reflects the market conditions of the area.

Frequently asked questions

What is the current guideline value of Sri Gayathri Co-Operative Mega Nagar?

The current guideline value of Sri Gayathri Co-Operative Mega Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 402 per sq.ft to Rs 660 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Sri Gayathri Co-Operative Mega Nagar?

The Padappai Sub Registrar Office handles registrations for Sri Gayathri Co-Operative Mega Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sri Gayathri Co-Operative Mega Nagar?

Sri Gayathri Co-Operative Mega Nagar is classified as Residential Special Type - I according to the guideline value register.