Guideline Value for G.R. Haroon Ullasa City Nagar

G.R. Haroon Ullasa City Nagar guideline value

The current guideline value for G.R. Haroon Ullasa City Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village and falls under the Redhills Sub Registrar Office (SRO). The land classification is Residential Class I Type - I.

How the guideline value of G.R. Haroon Ullasa City Nagar has changed

The guideline value for G.R. Haroon Ullasa City Nagar has seen several revisions over the years. The earliest recorded value is Rs 400 per sq.ft from the 2007 revision. This increased to Rs 700 per sq.ft in 2012, followed by a decrease to Rs 469 per sq.ft in 2017. The value then rose significantly to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a substantial increase of 75%. Overall, from 2007 to 2024, there has been an increase of 93%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 700 per sq.ft, placing G.R. Haroon Ullasa City Nagar above this median.

• G.R.Garden Phase-II: Rs 700 per sq.ft (2024)
• G.R.Garden Phase-I: Rs 700 per sq.ft (2024)
• Gopal Nagar: Rs 770 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 770 per sq.ft (2024)
• Jawaharlal Nagar: Rs 2,200 per sq.ft (2024)
• Jawahar Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in G.R. Haroon Ullasa City Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty is charged at 7%, which totals Rs 53,900, and the registration fee is 2%, amounting to Rs 15,400. Together, the total cost for stamp duty and registration fees is Rs 69,300. 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.R. Haroon Ullasa City Nagar?

The Sub Registrar Office that covers G.R. Haroon Ullasa City Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Pullilyon, the guideline value is used to calculate stamp duty and registration fees, ensuring that the transaction is legally compliant.

Both buyers and sellers should be aware that the guideline value may differ from the actual sale price. The higher value between the two is used for calculating the applicable duties and fees, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for G.R. Haroon Ullasa City Nagar?

The current guideline value for G.R. Haroon Ullasa City Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,70,000, the stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for G.R. Haroon Ullasa City Nagar?

The Redhills Sub Registrar Office handles property registrations for G.R. Haroon Ullasa City Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees. It ensures that the property transaction is legally compliant and reflects the market conditions.