Guideline Value for GLORIA AVENUE 1ST STREET

Gloria Avenue 1st Street guideline value

The current guideline value of Gloria Avenue 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the land classification of Residential Special Type - III.

How the guideline value of Gloria Avenue 1st Street has changed

The guideline value for Gloria Avenue 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, a significant increase from the 2017 revision of Rs 3,350 per sq.ft. This reflects a change of +64% from 2017 to 2024. The register does not contain figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2017 revision, there were no figures available for the years mentioned above. The 2017 figure of Rs 3,350 per sq.ft was the first recorded value for this street, marking a new benchmark for property transactions in the area.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Gloria Avenue 1st Street is above this median, indicating its relative positioning within the local market.

• Gloria Avenue 2nd Street: Rs 5,500 per sq.ft (2024)
• Gloria Avenue 3rd Street: Rs 5,500 per sq.ft (2024)
• Gnv Mohanraj Thottam: Rs 1,700 per sq.ft (2024)
• God S Own Villa: Rs 2,200 per sq.ft (2024)
• Golden Beach South (Vgp Part): Rs 5,500 per sq.ft (2024)
• Golden Shore Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gloria Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gloria Avenue 1st Street?

The Sub Registrar Office that covers Gloria Avenue 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Gloria Avenue 1st Street?

The current guideline value of Gloria Avenue 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, marking a +64% change. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for Gloria Avenue 1st Street?

Gloria Avenue 1st Street falls under the land classification of Residential Special Type - III, which indicates its intended use for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Gloria Avenue 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.