Guideline Value for G S T Road

G S T Road guideline value

The current guideline value of G S T Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road is located in Adambakkam village under the Alandur SRO, classified as Commercial Special Type - I.

How the guideline value of G S T Road has changed

The guideline value for G S T Road has seen several revisions over the years. In 2012, the value was set at Rs 10,000 per sq.ft, which then decreased to Rs 6,700 per sq.ft in 2017. Following this, the value increased significantly to Rs 10,000 per sq.ft in 2023, and further rose to Rs 11,000 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the increase was substantial at 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing G S T Road's 2024 figure above that median.

• H B Colony - All streets: Rs 3,900 per sq.ft (2024)
• Gopalakrishnan Street: Rs 3,900 per sq.ft (2024)
• Goodshed Road: Rs 3,900 per sq.ft (2024)
• Goodshed 3rd Lane: Rs 3,900 per sq.ft (2024)
• Goodshed 2nd Lane: Rs 2,800 per sq.ft (2024)
• Goodshed 1st Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in G S T Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, making the total Rs 9,90,000. 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 G S T Road?

The Sub Registrar Office that covers G S T Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property in Adambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that buyers need to pay.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of G S T Road?

The current guideline value of G S T Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2012 to Rs 6,700 per sq.ft in 2017, then to Rs 10,000 per sq.ft in 2023, and finally to Rs 11,000 per sq.ft in 2024.

What is the land classification of G S T Road?

G S T Road is classified as Commercial Special Type - I, indicating its commercial significance in the area.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties on G S T Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 11,000 per sq.ft would incur a stamp duty of Rs 7,70,000.