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 Thailavaram village and falls 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

Over the years, the guideline value for G.S.T.Road (Ward -1) has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in 2017. The subsequent revision in 2023 increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for G.S.T.Road (Ward -1) for the years 2002, 2003, and 2007. The overall change from the 2012 revision to the 2024 revision shows a 10% increase, reflecting the evolving property landscape in the area.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing 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 881 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

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

You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Thailavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

During the registration process, the guideline value serves as a benchmark to assess the property's worth, helping to maintain transparency and consistency in property transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transfer of property ownership.

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 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing a significant increase over the years.

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

G.S.T.Road (Ward -1) is classified as Residential Special Type - I. This classification affects the guideline value and potential uses of the property.

What are the stamp duty and registration fees for property in G.S.T.Road (Ward -1)?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for G.S.T.Road (Ward -1)?

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