Guideline Value for G.S.T ROAD THAILAVARAM (WARD-21)

G.S.T Road Thailavaram (Ward-21) guideline value

The current guideline value of G.S.T Road Thailavaram (Ward-21) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Konathi village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of G.S.T Road Thailavaram (Ward-21) has changed

The guideline value for G.S.T Road Thailavaram has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for G.S.T Road Thailavaram. Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 10% in the guideline value.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value among these streets is Rs 770 per sq.ft, placing G.S.T Road Thailavaram's current value above this median.

• G.S.T.Road (Ward -1): Rs 2,200 per sq.ft (2024)
• Gst Road Potheri (Ward-20): Rs 2,200 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)
• Gurusamy Street (Ward-21): Rs 660 per sq.ft (2024)
• Handicaped Street (Ward-21): Rs 660 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in G.S.T Road Thailavaram (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, resulting in Rs 1,54,000, while the registration fee at 2% amounts to Rs 44,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G.S.T Road Thailavaram (Ward-21)?

The G.S.T Road Thailavaram (Ward-21) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Konathi. It serves as a benchmark for determining the minimum value of the property, which is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

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

The current guideline value of G.S.T Road Thailavaram (Ward-21) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for G.S.T Road Thailavaram?

The land classification for G.S.T Road Thailavaram is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Konathi?

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 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.