Guideline Value for GLORIOUS CITY

Glorious City guideline value

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

How the guideline value of Glorious City has changed

The guideline value for Glorious City has seen several revisions over the years. In the 2017 revision, the value was Rs 201 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 330 per sq.ft, reflecting a further increase of 10% from the previous year.

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

Guideline values in Nemam_B

In Nemam_B, there are 24 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 3,500 per sq.ft, with a median value of Rs 935 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 - 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)
• Maansarovar Nagar Phase I: Rs 1,100 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 amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total 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. You can use the stamp duty and registration fee calculator for further calculations.

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_B

The guideline value is a crucial factor during the registration of property transactions in Nemam_B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This value is used to assess the applicable taxes and fees, ensuring compliance with local regulations.

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 increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets in Nemam_B and their guideline values?

Other streets in Nemam_B include Kamatchi Nagar at Rs 330 per sq.ft, Ashok Brindhavanam at Rs 770 per sq.ft, and Ashok Brindavanam Phase - IV at Rs 1,310 per sq.ft, among others.

How is stamp duty calculated for properties in Glorious City?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.

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

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