Guideline Value for G.S.T. Road

G.S.T. Road guideline value

The current guideline value of G.S.T. Road in Urapakkam village is Rs 3,000 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Commercial Class I Type - II.

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

The guideline value of G.S.T. Road has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, which is a decline of 33%. The most recent revision in 2023 saw the guideline value return to Rs 3,000 per sq.ft, reflecting an increase of 49% from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 200%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific village figures provided for Urapakkam. The G.S.T. Road guideline value fits within the broader context of the area, but no other streets in Urapakkam are listed with their respective rates.

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 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty, charged at 7%, would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. It is essential to know that 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?

The G.S.T. Road is covered by 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 information.

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

The guideline value serves as a benchmark for property transactions in Urapakkam. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. This helps in making informed decisions during the transaction 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 3,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,000 per sq.ft in 2007, increasing to Rs 3,000 in 2012, then decreasing to Rs 2,010 in 2017, and returning to Rs 3,000 in 2023.

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

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

Where is the Gooduvancheri Sub Registrar Office located?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions in Urapakkam. It ensures that all transactions comply with local regulations and helps buyers and sellers understand their costs.