Guideline Value for G.S.T. Road/mount road

G.S.T. Road/mount road guideline value

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

How the guideline value of G.S.T. Road/mount road has changed

The guideline value for G.S.T. Road/mount road has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 3,800 per sq.ft. This increased significantly to Rs 10,000 per sq.ft in the 2012 revision, marking a 163% rise. However, in the 2017 revision, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. Following this, the value surged to Rs 10,000 per sq.ft in 2023, and then further increased to Rs 11,000 per sq.ft in 2024, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 189%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Alandur

Alandur village has a total of 40 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median value for these streets is Rs 5,000 per sq.ft, placing G.S.T. Road/mount road above this median.

• G.S.T. RoadSOUTH SIDE LAWYER JAGANATHAN STREET: Rs 11,000 per sq.ft (2024)
• Gurupax Street: Rs 4,400 per sq.ft (2024)
• Hussain Subedar Street: Rs 4,400 per sq.ft (2024)
• Ibrahim Street: Rs 4,400 per sq.ft (2024)
• Jal Naiken Street: Rs 4,400 per sq.ft (2024)
• Gandhi Market commer: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in G.S.T. Road/mount 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, resulting in a total of 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G.S.T. Road/mount road?

The G.S.T. Road/mount 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 Alandur

The guideline value is an essential factor in the registration process for property transactions in Alandur. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value also helps determine the minimum sale price for the transaction. This ensures that the property is registered at a value that reflects the current market conditions as per the official guidelines.

Frequently asked questions

What is the current guideline value for G.S.T. Road/mount road?

The current guideline value for G.S.T. Road/mount 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 seen several revisions, increasing from Rs 3,800 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 189%.

What are the stamp duty and registration fees for property in G.S.T. Road/mount road?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,10,00,000. The stamp duty at 7% is Rs 7,70,000, and the registration fee at 2% is Rs 2,20,000, totaling Rs 9,90,000.

Which Sub Registrar Office covers the area?

The Alandur Sub Registrar Office covers G.S.T. Road/mount road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for G.S.T. Road/mount road?

G.S.T. Road/mount road is classified as Commercial Special Type - I in the Alandur village.