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 Vallancheri 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 undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. It is important to note that the guideline register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. G.S.T.Road (Ward -1) is above this median value.

• 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 880 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 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 the stamp duty and registration fee calculator for more details.

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, 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 Vallancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Vallancheri. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official register.

When you approach the Sub Registrar Office for registration, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

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 seen several changes, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% rise. The value was Rs 1,340 per sq.ft in 2017, showing a significant increase over the years.

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

G.S.T.Road (Ward -1) is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles all registrations for properties in the area.

How is the stamp duty calculated for properties in G.S.T.Road (Ward -1)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.