Guideline Value for Sri Gayathri Dr.City Phase-II & V

Sri Gayathri Dr.City Phase-II & V guideline value

The current guideline value for Sri Gayathri Dr.City Phase-II & V is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Korukanthangal village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Gayathri Dr.City Phase-II & V has changed

Over the years, the guideline value for Sri Gayathri Dr.City Phase-II & V has undergone several revisions. The register shows the following figures: in 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then dropped to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintain the value at Rs 500 per sq.ft, indicating no change from the previous year.

When examining the changes between revisions, from 2007 to 2012, there was a notable increase of 233%. The value then decreased by 33% from 2012 to 2017. Following this, a substantial increase of 49% occurred from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry the 2024 guideline value, ranging from Rs 500 to Rs 500 per sq.ft, with the median also at Rs 500 per sq.ft. The guideline value for Sri Gayathri Dr.City Phase-II & V aligns with this median.

• Sri Gayathri Co-op Mega Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Subramaniya Nagar: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar Extn: Rs 500 per sq.ft (2024)
• Sapthagiri Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gayathri Dr.City Phase-II & V

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, totaling Rs 35,000, while the registration fee is 2%, amounting to Rs 10,000. Together, the total fees would be Rs 45,000. 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 Sri Gayathri Dr.City Phase-II & V?

The Sri Gayathri Dr.City Phase-II & V property falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Korukanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value is taken into account to ensure compliance with local regulations. This value helps in calculating the necessary fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Sri Gayathri Dr.City Phase-II & V?

The current guideline value for Sri Gayathri Dr.City Phase-II & V is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 150 per sq.ft in 2007, increased to Rs 500 per sq.ft in 2012, dropped to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for this area?

The land classification for Sri Gayathri Dr.City Phase-II & V is Residential Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.