Guideline Value for G S T Road

G S T Road guideline value

The current guideline value of G S T Road in Palavanthangal village is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Alandur Sub Registrar Office (SRO) and is 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 undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 3,650 per sq.ft. This increased significantly to Rs 10,000 per sq.ft in 2012, marking a rise of 174%. However, it then decreased to Rs 6,700 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase again to Rs 10,000 per sq.ft in 2023, which was a 49% rise from the previous revision. The most recent revision in 2024 set the guideline value at Rs 11,000 per sq.ft, a 10% increase from 2023.

There are no recorded figures for G S T Road in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 201%, showcasing significant changes over the years.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 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 this median.

• Gopal Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Gopal Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Gopal Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Jaihind Street: Rs 3,300 per sq.ft (2024)
• James Street: Rs 3,300 per sq.ft (2024)
• Gandhi Street: 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 would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for stamp duty and registration fee would be Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers G S T Road?

The G S T Road is covered by 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 Palavanthangal

The guideline value is a crucial factor during property registration in Palavanthangal. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

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 3,650 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 201% over the years.

What is the land classification for G S T Road?

G S T Road is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

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 the 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 property valued at Rs 1,10,00,000 would incur a stamp duty of Rs 7,70,000 at 7%.