Guideline Value for G.S.T. Road

G.S.T. Road guideline value

The current guideline value of G.S.T. Road in Gooduvancheri village is Rs 3,500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Commercial Class I Type - I.

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

The guideline value for G.S.T. Road has seen several revisions over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which remained unchanged in the 2023 revision at Rs 3,500 per sq.ft. The 2024 revision also holds the same value of Rs 3,500 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%, maintaining the same rate in the last two revisions.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. G.S.T. Road's 2024 figure is above this median.

• Guduvancheri Extn: Rs 1,500 per sq.ft (2024)
• Ganesh Nagar: Rs 1,200 per sq.ft (2024)
• Gandhi Street: Rs 2,001 per sq.ft (2024)
• Jagadeesh Nagar: Rs 2,001 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,001 per sq.ft (2024)
• Jagir Hussain Street: Rs 1,500 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 rate of Rs 3,500 per sq.ft, the guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, totaling Rs 3,15,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers G.S.T. Road?

The G.S.T. Road falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Gooduvancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable duties and fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,500 per sq.ft since the 2023 revision. It increased from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, marking a 49% increase over that period.

What are the other streets in Gooduvancheri with their guideline values?

Other streets in Gooduvancheri include Guduvancheri Extn at Rs 1,500 per sq.ft, Ganesh Nagar at Rs 1,200 per sq.ft, and Gandhi Street at Rs 2,001 per sq.ft, among others.

What is the stamp duty rate for properties in G.S.T. Road?

The stamp duty rate for properties in G.S.T. Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for G.S.T. Road?

The Sub Registrar Office covering G.S.T. Road is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.