Guideline Value for GIRI ROAD

Giri Road guideline value

The current guideline value of Giri Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Giri Road has changed

The guideline value of Giri Road has undergone several revisions over the years. Starting from Rs 2,576 per sq.ft in 2003, it increased to Rs 3,000 per sq.ft in 2007, marking a growth of 16%. The value then saw a significant jump to Rs 16,000 per sq.ft in 2012, a rise of 433%. However, by 2017, the value decreased to Rs 10,720 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 brought the value up to Rs 16,000 per sq.ft, and the latest revision in 2024 has set it at Rs 17,600 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 583%. It is important to note that there is no figure available for Giri Road in the 2002 revision.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Giri Road's 2024 figure above this median.

• Girifith Road/Maharajapuram Santhanam Salai: Rs 9,900 per sq.ft (2024)
• Giriappa Road: Rs 8,800 per sq.ft (2024)
• G.N.Chetty Road(Part 1 Anna Fly Over To Dr. Nair Road: Rs 27,500 per sq.ft (2024)
• G.N.Chetty Road (Part II Dr. Nair Road Junction To Srinivasan Road): Rs 27,500 per sq.ft (2024)
• G.N.Chetty Road (Part III Kannadasan Statue To Panagal Park): Rs 27,500 per sq.ft (2024)
• Gankaikaraipuram: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Giri Road

For a 1,000 sq.ft plot at the current rate of Rs 17,600 per sq.ft, the guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees to Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Giri Road?

The Sub Registrar Office covering Giri Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Tnagar. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any penalties.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Giri Road?

The current guideline value of Giri Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,576 per sq.ft in 2003 to Rs 17,600 per sq.ft in 2024, marking a significant overall increase of 583% over this period.

What is the classification of land on Giri Road?

Giri Road is classified as Commercial Special Type - III under the guideline value register.

Where can I find the registration office for Giri Road?

The registration office for Giri Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties on Giri Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 1,76,00,000, the stamp duty at 7% would be Rs 12,32,000.