Guideline Value for GIRI NAGAR ANNEXE

Giri Nagar Annexe guideline value

The current guideline value of Giri Nagar Annexe is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Giri Nagar Annexe has changed

The guideline value for Giri Nagar Annexe has seen several revisions over the years. Starting from Rs 349 per sq.ft in 2002, it increased significantly to Rs 432 per sq.ft in 2003, marking a 24% rise. The value then surged to Rs 1,100 per sq.ft in 2007, reflecting a substantial 155% increase. In 2012, the value was revised to Rs 2,500 per sq.ft, which was a 127% increase from the previous figure. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, showing a 33% decline. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 688%. There are no figures available for the revisions of the years not mentioned in the register for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Giri Nagar Annexe is below this median.

• Giri Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Giri Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Giri Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Giri Nagar: Rs 2,750 per sq.ft (2024)
• Gangaiya Avenue: Rs 1,950 per sq.ft (2024)
• Gangai Ammn Koil North Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Giri Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Giri Nagar Annexe?

The Giri Nagar Annexe falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Ramapuram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected fees during registration.

Frequently asked questions

What is the current guideline value of Giri Nagar Annexe?

The current guideline value of Giri Nagar Annexe is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 349 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 688% over this period.

What are the stamp duty rates for property in Giri Nagar Annexe?

The stamp duty rate for property transactions in Giri Nagar Annexe is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles transactions for Giri Nagar Annexe?

The Chennai South Joint II Sub Registrar Office handles transactions for Giri Nagar Annexe, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value for streets in Ramapuram?

The median guideline value for streets in Ramapuram is Rs 3,100 per sq.ft, with Giri Nagar Annexe's current value being below this median.