Guideline Value for G.R.Nagar

G.R.Nagar guideline value

The current guideline value of G.R.Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of G.R.Nagar has changed

The guideline value of G.R.Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 120 per sq.ft, which then increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 1,150%. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, an increase of 49%, and finally reached Rs 1,650 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,275%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with the median value being Rs 1,650 per sq.ft. G.R.Nagar's current guideline value aligns with this median.

• GR Nagar Extn 1 to 6: Rs 1,650 per sq.ft (2024)
• Guru Ganesh Avenue Phase -II: Rs 2,750 per sq.ft (2024)
• Guru Ganesh Avenue Phase -III: Rs 3,700 per sq.ft (2024)
• Gurupatham Nagar: Rs 1,100 per sq.ft (2024)
• Hidhyath Nagar: Rs 1,650 per sq.ft (2024)
• Hill Road Avenue: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers G.R.Nagar?

The Sub Registrar Office that covers G.R.Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the minimum price at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction and helps to prevent disputes over property valuations.

Frequently asked questions

What is the current guideline value of G.R.Nagar?

The current guideline value of G.R.Nagar is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 120 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,275% over the years.

What are the stamp duty and registration fees for G.R.Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 for these fees.

Which Sub Registrar Office covers G.R.Nagar?

The Padappai Sub Registrar Office covers G.R.Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for property registration and is essential for calculating stamp duty and registration fees during property transactions in Varadarajapuram.