Guideline Value for GANTZ ROAD

Gantz Road guideline value

The current guideline value of Gantz Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Gantz Road has changed

Over the years, the guideline value of Gantz Road has seen several revisions. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2012 revision. However, there was a decrease of 33% from 2012 to 2017, bringing the value down to Rs 3,350 per sq.ft. The 2023 revision then increased the value to Rs 5,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. Notably, there are no figures available for Gantz Road in the 2002 and 2003 revisions.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the current value of Gantz Road.

• Gangaiamma Battyer Street: Rs 2,700 per sq.ft (2024)
• Gangaiamma Battyer 3rd Street: Rs 2,700 per sq.ft (2024)
• Gangaiamma Battyer 2nd Street: Rs 2,700 per sq.ft (2024)
• Gangaiamma Battyer 1st Street: Rs 2,700 per sq.ft (2024)
• Gangadeeshwarar Koil Street: Rs 8,800 per sq.ft (2024)
• Gangadeeshwarar Koil Avenue: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gantz Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important 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 Gantz Road?

The Sub Registrar Office that covers Gantz Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property sale.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gantz Road?

The current guideline value of Gantz Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 175% over the years.

What are the stamp duty and registration fees for property in Gantz Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Gantz Road?

The Purasaivakkam Sub Registrar Office covers Gantz Road, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Gantz Road?

Gantz Road is classified as Residential Class III Type - I, indicating its suitability for residential development.