Guideline Value for GILL NAGAR EXTENSION

Gill Nagar Extension guideline value

The current guideline value for Gill Nagar Extension in Puliyur village, under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Gill Nagar Extension has changed

Over the years, the guideline value of Gill Nagar Extension has undergone several revisions. The earliest recorded value in 2003 was Rs 1,391 per sq.ft. This figure increased significantly to Rs 3,155 per sq.ft in 2007, marking a rise of 127%. Following this, the value saw another substantial increase to Rs 6,500 per sq.ft in 2012, which was a change of 106%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, representing a 63% increase from 2017. The register has no figure for the years 2023 and 2002 for this street.

When looking at the overall changes from 2003 to 2024, the guideline value has increased by 410%. Each revision reflects the changing landscape and value perception in the area, with the current value being significantly higher than the earlier figures.

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. The median value for these streets is Rs 5,800 per sq.ft, which means the guideline value for Gill Nagar Extension is above this median.

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

Stamp duty and registration fee for property in Gill Nagar 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. Together, the total cost for stamp duty and registration fee would be 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.

For further assistance, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gill Nagar Extension?

The Gill Nagar Extension area is covered by 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 the registration process when buying or selling property in Puliyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue based on the property's assessed value.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value for Gill Nagar Extension?

The current guideline value for Gill Nagar 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 significantly from Rs 1,391 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 410% over the years.

What is the land classification for Gill Nagar Extension?

The land classification for Gill Nagar Extension is Residential Special Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles the registration for Gill Nagar Extension?

The Kodambakkam Sub Registrar Office handles the registration for Gill Nagar Extension, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.