Guideline Value for GEROGE NAGAR

Geroge Nagar guideline value

The current guideline value of Geroge 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 Geroge Nagar has changed

In the 2017 revision, the guideline value for Geroge Nagar was Rs 201 per sq.ft. This figure increased to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 330 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, which is equal to the current figure for Geroge Nagar.

• Geetha 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)
• Gsp Nagar: Rs 275 per sq.ft (2024)
• Gandhi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Geroge Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, while the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. 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 further calculations.

Which Sub Registrar Office covers Geroge Nagar?

The Geroge Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of a property in Athipattu. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded with the government.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which a property can be registered. It helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Geroge Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This reflects a total increase of 64% from 2017 to 2024.

What are the guideline values of other streets in Athipattu?

Other streets in Athipattu have varying guideline values, with some streets like Geetha Nagar and Gandhi Nagar having the same value as Geroge Nagar at Rs 330 per sq.ft. Other streets like Gsp Nagar have a lower value of Rs 275 per sq.ft.

How is stamp duty calculated in Geroge Nagar?

Stamp duty in Geroge Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 3,30,000, the stamp duty would be Rs 23,100.

Which office handles property registration in Geroge Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for Geroge Nagar. The office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.