Guideline Value for G.S.T. Road

G.S.T. Road guideline value

The current guideline value of G.S.T. Road in Peerklankaranai village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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 undergone several revisions over the years. The oldest available revision is from 2012, where the value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The next revision in 2023 saw an increase to Rs 4,000 per sq.ft, and the most recent revision in 2024 brought it to Rs 4,400 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. The overall change from the 2012 revision to the 2024 revision is an increase of 10%. For the period from 2023 to 2024, the increase is 10% as well.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making G.S.T. Road's 2024 figure above the median.

• Gokulam Street: Rs 2,200 per sq.ft (2024)
• Imanuel IIIrd Street: Rs 1,100 per sq.ft (2024)
• Imanuel IInd Street…: Rs 1,100 per sq.ft (2024)
• Imanuel Ist Street: Rs 1,100 per sq.ft (2024)
• Indhira Nagar: Rs 2,200 per sq.ft (2024)
• Gayathri Street: Rs 1,980 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

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

The G.S.T. Road is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which helps maintain transparency in property dealings.

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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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

The Tambaram Joint 1 Sub Registrar Office covers G.S.T. Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, while G.S.T. Road's value is above this median at Rs 4,400 per sq.ft.