Guideline Value for G.S.T. Road

G.S.T. Road guideline value

The current guideline value of G.S.T. Road in Tambaram village is Rs 7,700 per sq.ft, effective from 1 July 2024. This road 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 of G.S.T. Road has seen significant changes over the years. In 2002, the value was Rs 900 per sq.ft. This increased to Rs 1,107 per sq.ft in 2003, marking a 23% rise. The value then rose dramatically to Rs 3,000 per sq.ft in 2007, which was a 171% increase. Following this, the value decreased to Rs 7,000 per sq.ft in 2012, representing a decline of 33%. The value then increased to Rs 4,690 per sq.ft in 2017, a 49% rise, before reaching Rs 7,000 per sq.ft in 2023. Finally, the current value of Rs 7,700 per sq.ft reflects a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 756%. There are no figures available for revisions in other years for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, placing G.S.T. Road's 2024 figure above this median.

• Govindarao Street: Rs 2,200 per sq.ft (2024)
• Govindarajan Street: Rs 5,500 per sq.ft (2024)
• Govindarajan Cross Street: Rs 4,400 per sq.ft (2024)
• Govindaraj 2-nd St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Govindaraj 1-st St (Near Gandhi Road): Rs 2,200 per sq.ft (2024)
• Haritha Enclave: Rs 3,300 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 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 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 Tambaram

The guideline value is an essential factor in property transactions in Tambaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to be aware of this value to ensure they are not overpaying for a property and for sellers to set a competitive price.

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 7,700 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 900 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 756% over this period.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for G.S.T. Road?

The Tambaram Joint 1 Sub Registrar Office handles registrations for G.S.T. Road, located at No.26,mes Road, East Tambaram, Chennai-600059.

Where can I find more information about other streets in Tambaram?

Information about other streets in Tambaram can be found in the guideline value register, which lists various streets and their respective guideline values.