Guideline Value for GLORIOUS CITY

Glorious City guideline value

The current guideline value of Glorious City in Nemam village, under the Avadi SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Glorious City has changed

The guideline value for Glorious City has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 330 per sq.ft, an increase from Rs 300 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 201 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision had the value at Rs 300 per sq.ft, indicating a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision was the first recorded value for Glorious City, and it was set at Rs 300 per sq.ft.

Guideline values in Nemam

In Nemam, there are 14 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,590 per sq.ft, with a median value of Rs 740 per sq.ft. The guideline value of Glorious City is below this median.

• Kamatchi Nagar: Rs 330 per sq.ft (2024)
• Ashok Brindhavanam: Rs 770 per sq.ft (2024)
• Ashok Brindavanam Phase V: Rs 1,590 per sq.ft (2024)
• Ashok Brindavanam Phase - IV: Rs 1,310 per sq.ft (2024)
• Ashok Brindavanam Phase III: Rs 770 per sq.ft (2024)
• Ashok Brindavanam Phase II: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Glorious City

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. 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 Glorious City?

The Sub Registrar Office that covers Glorious City is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Nemam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the fees are calculated fairly and consistently. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Glorious City?

The current guideline value of Glorious City is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2023 to Rs 330 per sq.ft in 2024, and from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2012. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Glorious City?

Glorious City is classified under Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for Glorious City?

The Avadi Sub Registrar Office, which covers Glorious City, is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Glorious City?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 3,30,000 would incur a stamp duty of Rs 23,100 at 7%.