Guideline Value for Sri Gayathri Mega Nagar

Sri Gayathri Mega Nagar guideline value

The current guideline value of Sri Gayathri Mega Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 660 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Gayathri Mega Nagar has changed

The guideline value for Sri Gayathri Mega Nagar has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 600 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Naduveerapattu

Naduveerapattu has a total of 96 streets under the Padappai SRO, with the 2024 guideline values 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 current guideline value of Sri Gayathri Mega Nagar.

• Sri Gayathri Co-Operative 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 Mega Nagar

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

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

Which Sub Registrar Office covers Sri Gayathri Mega Nagar?

The Sub Registrar Office that covers Sri Gayathri Mega Nagar is 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 an essential factor during the registration of property transactions in Naduveerapattu. It serves as a reference point for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value ensures that the sale price is appropriately documented, and it helps in determining the legal obligations related to the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sri Gayathri Mega Nagar?

The land classification for Sri Gayathri Mega Nagar is Residential Special Type - I.

Where can I find the registration office for Sri Gayathri Mega Nagar?

The registration office for Sri Gayathri Mega Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Sri Gayathri Mega Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.