Guideline Value for G.S.T. Road

G.S.T. Road guideline value

The current guideline value of G.S.T. Road in Zaminpallavaram village is Rs 11,000 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram 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 earliest recorded figure is from 2003, which was Rs 1,702 per sq.ft. This value increased to Rs 3,270 per sq.ft in 2007, marking a significant rise of 92%. Following that, in 2012, the value increased to Rs 10,000 per sq.ft, reflecting a substantial jump of 206%. However, in 2017, it decreased to Rs 6,700 per sq.ft, a decline of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, and most recently, it has been set at Rs 11,000 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 546%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing G.S.T. Road's 2024 figure above that median.

• G.S.T.Road 9 Part: Rs 11,000 per sq.ft (2024)
• G.S.T. Road Section (Thiruneermalai inner part): Rs 11,000 per sq.ft (2024)
• G.S.T. Road West Side Road: Rs 11,000 per sq.ft (2024)
• Hanumar Koil Street: Rs 3,850 per sq.ft (2024)
• Harbar Kuvari Street: Rs 2,100 per sq.ft (2024)
• Harijan Colony: Rs 2,160 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 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, while the registration fee at 2% would be Rs 2,20,000, leading to a total cost of Rs 9,90,000. It is important to 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 details.

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

The G.S.T. Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the transaction.

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 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,702 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 546% over this period.

What is the classification of the land on G.S.T. Road?

The land classification for G.S.T. Road is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for G.S.T. Road?

The registration office for G.S.T. Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties on G.S.T. Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,10,00,000 incurs a stamp duty of Rs 7,70,000.