Guideline Value for GIRIGORI NAGAR MAIN ROAD

Girigori Nagar Main Road guideline value

The current guideline value of Girigori Nagar Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024. This road is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Girigori Nagar Main Road has changed

The guideline value for Girigori Nagar Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from the Rs 1,541 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 2,300 per sq.ft, and the current 2024 revision further raised it to Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value is Rs 2,530 per sq.ft, which is the same as the 2024 figure for Girigori Nagar Main Road.

• Girigori Nagar 2nd Main Road: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Murugathamman Koil Cross Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar Murugathamman Koil Street: Rs 2,530 per sq.ft (2024)
• Girigori Nagar 1st Main Salai: Rs 2,530 per sq.ft (2024)
• Girikori Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Girigori Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty, charged at 7%, would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Girigori Nagar Main Road?

The Sub Registrar Office that covers Girigori Nagar Main Road is the Chennai South Joint I 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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Manapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When buying or selling property, it is essential to consider the guideline value as it directly impacts the financial obligations associated with the transaction. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can influence the overall cost of the property transfer.

Frequently asked questions

What is the current guideline value of Girigori Nagar Main Road?

The current guideline value of Girigori Nagar Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, marking a 10% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the land classification for Girigori Nagar Main Road?

The land classification for Girigori Nagar Main Road is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Girigori Nagar Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Manapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.