Guideline Value for GILL NAGAR 1ST STREET EXTENSION

Gill Nagar 1st Street Extension guideline value

The current guideline value of Gill Nagar 1st Street Extension is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, and it is classified as Residential Special Type - II.

How the guideline value of Gill Nagar 1st Street Extension has changed

The guideline value for Gill Nagar 1st Street Extension has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 1,800 per sq.ft. This value increased significantly to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 261%. However, it then dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 6,500 per sq.ft in 2023, and finally, the most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 294%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median of Rs 5,800 per sq.ft. The guideline value of Gill Nagar 1st Street Extension is above this median.

• Gill Nagar 1st Street: Rs 7,100 per sq.ft (2024)
• Gill Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Gill Nagar 3rd Street: Rs 7,100 per sq.ft (2024)
• Gill Nagar Extension: Rs 7,100 per sq.ft (2024)
• Gill Nagar Extension 1st Cross Street: Rs 7,100 per sq.ft (2024)
• Gill Nagar Extension 2nd Cross Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gill Nagar 1st Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gill Nagar 1st Street Extension?

The Sub Registrar Office that covers Gill Nagar 1st Street Extension is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the government receives appropriate revenue from property transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Gill Nagar 1st Street Extension?

The current guideline value of Gill Nagar 1st Street Extension is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty rates for properties in Gill Nagar 1st Street Extension?

The stamp duty rate for properties in Gill Nagar 1st Street Extension is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Gill Nagar 1st Street Extension?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Gill Nagar 1st Street Extension?

Gill Nagar 1st Street Extension is classified as Residential Special Type - II under the Kodambakkam SRO.