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 990 per sq.ft, effective from 1 July 2024. This area is located in Veeraragavapuram village under the Kunrathur 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 seen several revisions over the years. In 2012, the guideline value was set at Rs 900 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 603 per sq.ft. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and then rose again to Rs 990 per sq.ft in the 2024 revision. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Veeraragavapuram

In Veeraragavapuram, there are 10 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 2,790 per sq.ft. The median value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value for Sri Gayathri Co-Operative Mega Nagar.

• Swagatham Nagar: Rs 990 per sq.ft (2024)
• Vibha: Rs 2,790 per sq.ft (2024)
• Pilliyar Koil Street: Rs 990 per sq.ft (2024)
• Park street: Rs 770 per sq.ft (2024)
• Bharathi Nagar: Rs 990 per sq.ft (2024)
• Avadi Main Road: Rs 1,320 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total cost together to Rs 89,100. It is important 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 area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Veeraragavapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

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 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

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

Sri Gayathri Co-Operative Mega Nagar is classified as Residential Special Type - I.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri Gayathri Co-Operative Mega Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at a rate of 7%.