Guideline Value for GLASS FACTORY ROAD

Glass Factory Road guideline value

The current guideline value of Glass Factory Road in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Glass Factory Road has changed

The guideline value for Glass Factory Road has seen several revisions over the years. In 2002, the guideline value was Rs 332 per sq.ft. This increased to Rs 389 per sq.ft in 2003, marking a 17% rise. The value continued to rise significantly, reaching Rs 500 per sq.ft in 2007, which was a 29% increase from the previous revision. In 2012, the guideline value was recorded at Rs 1,800 per sq.ft, reflecting a substantial 260% increase from 2007.

Following this, the value decreased to Rs 1,206 per sq.ft in 2017, showing a 33% decline. The guideline value then rose to Rs 1,800 per sq.ft in 2023, a notable 49% increase from 2017. Finally, the most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, which is a 6% increase from the previous year. There are no figures available for the revisions in years not listed.

Guideline values in Thiruvottiyur

Thiruvottiyur village has a total of 177 streets under the Thiruvottiyur SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Glass Factory Road below this median.

• Ganga Nagar: Rs 3,300 per sq.ft (2024)
• Gangaiyamman Nagar: Rs 3,300 per sq.ft (2024)
• Gangai Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Horizon Appartment: Rs 5,500 per sq.ft (2024)
• Ilango Street(Grama Street): Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Glass Factory Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Glass Factory Road?

The Sub Registrar Office that covers Glass Factory Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvottiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are applied fairly based on the property's assessed value.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Glass Factory Road?

The current guideline value of Glass Factory Road is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 332 in 2002 to Rs 1,900 in 2024, showing an overall increase of 472% across the years.

What is the land classification for Glass Factory Road?

Glass Factory Road is classified as Residential Class I Type - III, which indicates its designation for residential use.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties on Glass Factory Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 at 7%.