Guideline Value for GILL NAGAR 3RD STREET

Gill Nagar 3rd Street guideline value

The current guideline value of Gill Nagar 3rd Street in Puliyur village, under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Gill Nagar 3rd Street has changed

The guideline value of Gill Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 1,267 per sq.ft, which increased to Rs 1,391 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a +29% increase. Following this, the guideline value jumped to Rs 6,500 per sq.ft in 2012, representing a substantial +261% change. However, the value dropped to Rs 4,355 per sq.ft in 2017, showing a decrease of -33%. The next revision in 2023 saw the value rise to Rs 6,500 per sq.ft, an increase of +49%. Finally, the current revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, which is an increase of +9% from the previous year.

There are no figures available for the years between these revisions for Gill Nagar 3rd Street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, and Gill Nagar 3rd Street's current guideline value is above this median.

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

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 for these charges Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gill Nagar 3rd Street?

The Kodambakkam Sub Registrar Office covers Gill Nagar 3rd Street, 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 is used as a benchmark for property transactions in Puliyur. It helps determine the stamp duty and registration fees that buyers and sellers must pay when registering a property. This ensures that the government collects the appropriate taxes based on the established value of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Gill Nagar 3rd Street?

The current guideline value of Gill Nagar 3rd 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 from Rs 1,267 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of +460% over the years.

What is the land classification for Gill Nagar 3rd Street?

Gill Nagar 3rd Street is classified as Residential Special Type - II.

Where can I find the Kodambakkam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Gill Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 4,97,000.