Guideline Value for By Pass

By Pass guideline value

The current guideline value for By Pass in Old Gummidipoondi village is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Gummidipoondi Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of By Pass has changed

The guideline value for By Pass has seen several revisions over the years. In 2002, the value was Rs 186 per sq.ft, which increased to Rs 212 per sq.ft in 2003, marking a 14% rise. By 2007, the value further increased to Rs 700 per sq.ft, reflecting a significant 230% change. However, from 2007 to 2012, the value decreased to Rs 800 per sq.ft, which was a decline of 33%.

In 2017, the guideline value rose to Rs 536 per sq.ft, followed by another increase to Rs 800 per sq.ft in 2023. The most recent revision in 2024 brought the value to Rs 880 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 373%.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, indicating that By Pass's 2024 figure is above this median.

• Bye Pass Road New Gummdipoondi Road To G N T Road Junction: Rs 880 per sq.ft (2024)
• Bye Pass Road Group House To New Gummdipoondi: Rs 880 per sq.ft (2024)
• Desan Street Ward No.2 Door No.1-94: Rs 330 per sq.ft (2024)
• Erikarai Street Ward No.12 Door No.1-23 Lake band street: Rs 330 per sq.ft (2024)
• Erular Colony Ward No.12 Door No.1-40: Rs 220 per sq.ft (2024)
• Gandhi Nagar (a) Kallukadai medu street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in By Pass

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers By Pass?

The By Pass area is covered by the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Old Gummidipoondi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value for By Pass?

The current guideline value for By Pass in Old Gummidipoondi is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for By Pass has increased from Rs 186 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, marking an overall increase of 373% over the years.

What are the stamp duty and registration fees for property in By Pass?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at Rs 880 per sq.ft, the total fees would amount to Rs 79,200.

Which office handles property registrations for By Pass?

The Gummidipoondi Sub Registrar Office handles property registrations for By Pass, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the minimum registration value for properties. It ensures that stamp duties and registration fees are calculated based on the higher of the guideline value or the sale price, thus maintaining transparency in the registration process.