Guideline Value for G.S.T.Main Road

G.S.T.Main Road guideline value

The current guideline value of G.S.T.Main Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road is located in Cantonment Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Commercial Class I Type - I.

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

The guideline value of G.S.T.Main Road has seen several revisions over the years. In 2003, the guideline value was Rs 1,702 per sq.ft. This increased to Rs 3,270 per sq.ft in 2007, marking an increase of 92%. The value then rose significantly to Rs 10,000 per sq.ft in 2012, which represented a 206% increase. However, between 2012 and 2017, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 10,000 per sq.ft, followed by a further increase to Rs 11,000 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to the current guideline value in 2024, there has been a substantial increase of 546%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that G.S.T.Main Road's 2024 figure is significantly above this median.

• Hospital Street: Rs 2,700 per sq.ft (2024)
• Hussain Saheb St: Rs 2,700 per sq.ft (2024)
• Indragandhi Road: Rs 5,500 per sq.ft (2024)
• Ismoil Street: Rs 3,300 per sq.ft (2024)
• Gandhi Street: Rs 2,700 per sq.ft (2024)
• Jaganthan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in G.S.T.Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty is charged at 7%, resulting in Rs 7,70,000, and the registration fee is charged at 2%, amounting to Rs 2,20,000. Together, the total cost for stamp duty and registration fee would be Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers G.S.T.Main Road is 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 Cantonment Pallavaram

The guideline value is a crucial factor in the registration process for property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal minimum value of a property. This value is used to calculate the applicable fees and taxes, which are essential for a smooth transaction process.

Frequently asked questions

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

The current guideline value of G.S.T.Main 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 significantly from Rs 1,702 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 546%.

What is the land classification for G.S.T.Main Road?

The land classification for G.S.T.Main Road is Commercial Class I Type - I.

Where is the Sub Registrar Office located for G.S.T.Main Road?

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

How is stamp duty calculated for properties in G.S.T.Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 at a rate of 7%.