Guideline Value for GLORIA AVENUE 3RD STREET

Gloria Avenue 3rd Street guideline value

The current guideline value of Gloria Avenue 3rd 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, with a land classification of Residential Special Type - III.

How the guideline value of Gloria Avenue 3rd Street has changed

The guideline value for Gloria Avenue 3rd Street has undergone significant changes over the years. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, a notable increase from Rs 3,350 per sq.ft in the 2017 revision, representing a change of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

In 2017, the guideline value was Rs 3,350 per sq.ft. Prior to that, the register does not provide figures for the earlier revisions, including 2023, 2012, 2007, 2003, and 2002. Thus, the only recorded changes in guideline value for Gloria Avenue 3rd Street are from 2017 to 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that have 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 3rd Street is above this median.

• Gloria Avenue 2nd Street: Rs 5,500 per sq.ft (2024)
• Gloria Avenue 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gloria Avenue 3rd Street?

The Sub Registrar Office that covers Gloria Avenue 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property’s value.

Frequently asked questions

What is the current guideline value of Gloria Avenue 3rd Street?

The current guideline value of Gloria Avenue 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 3,350 per sq.ft to Rs 5,500 per sq.ft, which is a change of +64%.

What are the guideline values for other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have varying guideline values, with some streets like Gloria Avenue 2nd Street and Gloria Avenue 1st Street also at Rs 5,500 per sq.ft in 2024.

Where can I find the Neelankarai Sub Registrar Office?

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 the stamp duty calculated for properties in Gloria Avenue 3rd Street?

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