Guideline Value for GILL NAGAR 1ST STREET

Gill Nagar 1st Street guideline value

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

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

The guideline value for Gill Nagar 1st Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,267 per sq.ft. This increased to Rs 1,391 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,800 per sq.ft in 2007, reflecting a 29% increase. After this, the guideline value jumped dramatically to Rs 6,500 per sq.ft in 2012, which was a substantial 261% increase. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%. The value then increased again to Rs 6,500 per sq.ft in 2023, and finally reached Rs 7,100 per sq.ft in 2024, which is a 9% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 460%. The register has no figure for the years not listed for this street.

Guideline values in Puliyur

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

• Gill Nagar 1st Street Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gill Nagar 1st Street?

The Gill Nagar 1st Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller approaches the Kodambakkam SRO for registration, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Gill Nagar 1st Street 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 significantly from Rs 1,267 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 460% over this period.

What is the land classification for Gill Nagar 1st Street?

Gill Nagar 1st Street is classified as Residential Special Type - II.

Where is the Kodambakkam Sub Registrar Office located?

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

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value or the sale price, whichever is higher. A calculator is available for this purpose.