Guideline Value for GLORIA AVENUE 2ND STREET

Gloria Avenue 2nd Street guideline value

The current guideline value of Gloria Avenue 2nd 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 2nd Street has changed

Over the years, the guideline value for Gloria Avenue 2nd Street has seen significant changes. The 2017 revision recorded a guideline value of Rs 3,350 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

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 for Gloria Avenue 2nd Street is significantly above this median.

• Gloria Avenue 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, which totals Rs 3,85,000, and the registration fee is 2%, amounting to Rs 1,10,000. Together, the total cost for stamp duty and registration fee is 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gloria Avenue 2nd Street?

The Sub Registrar Office that covers Gloria Avenue 2nd 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 details.

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

The guideline value plays a crucial role in property transactions in Sholinganallur - 1. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of property transactions. This ensures that all parties are informed about the financial implications associated with the sale or purchase of property in this area.

Frequently asked questions

What is the current guideline value of Gloria Avenue 2nd Street?

The current guideline value of Gloria Avenue 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 64% over this period.

What is the land classification for Gloria Avenue 2nd Street?

Gloria Avenue 2nd Street is classified under Residential Special Type - III.

Which Sub Registrar Office is responsible for Gloria Avenue 2nd Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 55,00,000.