Guideline Value for GIRIAM AVENUE

Giriam Avenue guideline value

The current guideline value of Giriam Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Somangalam_B village under the Sriperumpudur SRO, classified as Commercial Class I Type - I.

How the guideline value of Giriam Avenue has changed

The guideline value for Giriam Avenue has seen several revisions over the years. The most recent revisions show that the guideline value was Rs 500 per sq.ft in both 2023 and 2024, indicating no change between these two years. Prior to this, in 2017, the guideline value was Rs 335 per sq.ft, reflecting a significant increase of 49% to reach the current rate by 2024.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The overall change from 2017 to 2024 is also an increase of 49%, demonstrating a consistent upward trend in the guideline value.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, making Giriam Avenue's current value above that median.

• Green Garden: Rs 250 per sq.ft (2024)
• Ganapathy Farm Lands: Rs 150 per sq.ft (2024)
• Ganapathy Farm House Site: Rs 400 per sq.ft (2024)
• Hanuman Garden: Rs 200 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Giriam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty is charged at 7%, amounting to Rs 35,000, and the registration fee is 2%, which is Rs 10,000. Together, the total cost for stamp duty and registration fee would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Giriam Avenue?

The Sub Registrar Office covering Giriam Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Somangalam_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to 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 Giriam Avenue?

The current guideline value of Giriam Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2023 to 2024, while it increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2024, which is a 49% increase.

What is the median guideline value in Somangalam_B?

The median guideline value in Somangalam_B is Rs 250 per sq.ft, with Giriam Avenue's value being above this median.

What are the stamp duty rates for properties in Giriam Avenue?

The stamp duty rate for properties in Giriam Avenue is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Which office handles property registrations for Giriam Avenue?

The Sriperumpudur Sub Registrar Office handles property registrations for Giriam Avenue, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.