Guideline Value for GLOBEL CITY

Globel City guideline value

The current guideline value of Globel City in Voyalur village is Rs 126 per sq.ft, effective from 1 July 2024. This area falls under the Ponneri SRO and is classified as Residential Class I Type - I.

How the guideline value of Globel City has changed

The guideline value for Globel City has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 84 per sq.ft. This value increased by 50% to Rs 126 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The overall change from the 2017 revision to the 2024 revision is also +50%.

Guideline values in Voyalur

In Voyalur, there are 17 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median of Rs 100 per sq.ft. The guideline value of Globel City is above this median.

• Global City Phase-I: Rs 100 per sq.ft (2024)
• Green City: Rs 126 per sq.ft (2024)
• Hindustan Nagar: Rs 126 per sq.ft (2024)
• Ganapathy Nagar: Rs 100 per sq.ft (2024)
• Indhira Nagar: Rs 100 per sq.ft (2024)
• D.N.R. Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Globel City

For a 1,000 sq.ft plot at the current guideline value of Rs 126 per sq.ft, the total guideline value is Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, making the total cost for these fees Rs 11,340. 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 Globel City?

The Sub Registrar Office that covers Globel City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Voyalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell a property, the guideline value is used to assess the transaction value for taxation purposes. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Globel City?

The current guideline value of Globel City in Voyalur village is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 84 per sq.ft in 2017 to Rs 126 per sq.ft in 2023, and it remained at Rs 126 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

What are the guideline values of other streets in Voyalur?

In Voyalur, other streets have guideline values ranging from Rs 100 to Rs 150 per sq.ft. The median guideline value is Rs 100 per sq.ft, while Globel City is above this median.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 126 per sq.ft would incur a total fee of Rs 11,340.

Which office handles property registration for Globel City?

The Ponneri Sub Registrar Office handles property registration for Globel City. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.