Guideline Value for G.V.S.Nagar

G.V.S.Nagar guideline value

The current guideline value of G.V.S.Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Anakaputhur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of G.V.S.Nagar has changed

The guideline value for G.V.S.Nagar has seen significant changes over the years. In 2003, the value was Rs 123 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was a rise of 144%. The value continued to climb, reaching Rs 1,072 per sq.ft in 2017, marking a substantial increase of 257% from the previous revision. The 2023 revision set the value at Rs 1,600 per sq.ft, reflecting a 49% increase from 2017.

The most recent revision in 2024 saw the guideline value rise to Rs 1,760 per sq.ft, which is a 10% increase from the 2023 figure. The register has no figures for the years 2002 and 2012 for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing G.V.S.Nagar's 2024 figure below that median.

• G.V.S.V Nagar: Rs 1,760 per sq.ft (2024)
• Guruswamy Nagar Extension: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 6th Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 5th Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 4th Street: Rs 2,350 per sq.ft (2024)
• Guruswamy Nagar 3rd Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in G.V.S.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total cost for these fees would be Rs 1,58,400. It is important to note that the 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.V.S.Nagar?

The Sub Registrar Office that covers G.V.S.Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Anakaputhur

The guideline value plays a crucial role in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate these fees, ensuring that they are based on a standardized value set by the authorities. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of G.V.S.Nagar?

The current guideline value of G.V.S.Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 123 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 1331% over the years.

What are the stamp duty and registration fees for property in G.V.S.Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000. The stamp duty at 7% is Rs 1,23,200, and the registration fee at 2% is Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations in G.V.S.Nagar?

The Pammal Sub Registrar Office is responsible for property registrations in G.V.S.Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that these fees are based on a standardized value set by the authorities.