Guideline Value for GEETHA NAGAR

Geetha Nagar guideline value

The current guideline value of Geetha Nagar, located in Athipattu village under the Thiruvottiyur SRO, is Rs 330 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Geetha Nagar has changed

The guideline value for Geetha Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value to Rs 330 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The 2024 figure of Rs 330 per sq.ft is equal to the median guideline value for Athipattu, which ranges from Rs 220 to Rs 462 per sq.ft.

Guideline values in Athipattu

Athipattu village has 108 streets under the Thiruvottiyur SRO that carry a guideline value for 2024. The values range from Rs 220 to Rs 462 per sq.ft, with a median of Rs 330 per sq.ft. Geetha Nagar's 2024 guideline value aligns with this median.

• Geroge Nagar: Rs 330 per sq.ft (2024)
• Gopal Sharma Nagar: Rs 330 per sq.ft (2024)
• Gandhi Street: Rs 330 per sq.ft (2024)
• Gandhi Nagar Extn: Rs 330 per sq.ft (2024)
• Gandhi Nagar: Rs 330 per sq.ft (2024)
• Gsp Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Geetha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, together totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Geetha Nagar?

The Sub Registrar Office that covers Geetha Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

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

When a property transaction occurs, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Geetha Nagar?

The current guideline value of Geetha Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 201 per sq.ft to Rs 330 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Geetha Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 330 per sq.ft, the total guideline value is Rs 3,30,000. The stamp duty would be Rs 23,100, and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers Geetha Nagar?

The Thiruvottiyur Sub Registrar Office covers Geetha Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Geetha Nagar?

Geetha Nagar is classified under Residential Class I Type - I, indicating its designation for residential use within the area.