Guideline Value for G.S.T. Road

G.S.T. Road guideline value

The current guideline value of G.S.T. Road in Nandhivaram village is Rs 3,500 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street 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. In 2002, the value was Rs 182 per sq.ft, which increased significantly to Rs 601 per sq.ft in 2007, marking a change of +230%. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, reflecting an increase of +482%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of -33%. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 3,500 per sq.ft, showing no percentage change between these two years.

It is important to note that there is no figure available for G.S.T. Road in the 2003 revision. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +1,823%.

Guideline values in Nandhivaram

Nandhivaram features 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft in 2024. The median guideline value for these streets is Rs 1,500 per sq.ft, placing G.S.T. Road's value above this median.

• Govindarajpuram Extn: Rs 1,500 per sq.ft (2024)
• Govindarajpuram: Rs 1,500 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Ishwarya Nagar: Rs 1,200 per sq.ft (2024)
• Iswarya Nagar Extn: Rs 2,000 per sq.ft (2024)
• Gandhi 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 guideline value of Rs 3,500 per sq.ft, the total 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, making the total cost for these fees Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

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

The G.S.T. Road is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value is a crucial factor during property registration in Nandhivaram. It is used to determine the stamp duty and registration fees applicable to the property being sold or purchased. Buyers and sellers must be aware of the current guideline value to ensure compliance with regulations.

When a property is registered, the guideline value helps in calculating the total cost involved in the transaction. This ensures that both parties are aware of the financial obligations related to the sale or purchase of the property.

Frequently asked questions

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

The current guideline value of G.S.T. Road in Nandhivaram 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 increased significantly from Rs 182 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, representing an overall increase of +1,823%.

What is the registration office for G.S.T. Road?

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

What are the stamp duty and registration fees for properties on G.S.T. Road?

For a property valued at the current guideline value of Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that all financial obligations are clear to both buyers and sellers.