Guideline Value for G.S.T.ROAD (WARD -1)

G.S.T.Road (Ward -1) guideline value

The current guideline value of G.S.T.Road (Ward -1) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Potheri village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of G.S.T.Road (Ward -1) has changed

The guideline value for G.S.T.Road (Ward -1) has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, which represented a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, positioning G.S.T.Road (Ward -1) above this median.

• G.S.T Road Thailavaram (Ward-21): Rs 2,200 per sq.ft (2024)
• Gst Road Potheri (Ward-20): Rs 2,200 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)
• Gurusamy Street (Ward-21): Rs 660 per sq.ft (2024)
• Handicaped Street (Ward-21): Rs 660 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in G.S.T.Road (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers G.S.T.Road (Ward -1)?

The G.S.T.Road (Ward -1) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a standardized value.

When a property is sold, the buyer is typically required to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of G.S.T.Road (Ward -1)?

The current guideline value of G.S.T.Road (Ward -1) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for G.S.T.Road (Ward -1)?

The land classification for G.S.T.Road (Ward -1) is Residential Special Type - I.

Where can I find the registration office for G.S.T.Road (Ward -1)?

The registration office for G.S.T.Road (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be calculated at 7% of this value.