Guideline Value for GLORY NAGAR

Glory Nagar guideline value

The current guideline value of Glory Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - I.

How the guideline value of Glory Nagar has changed

The guideline value for Glory Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 9%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The years 2002, 2003, and 2007 have no figures available for this street in the register.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO, with a 2024 guideline value range from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Glory Nagar's 2024 figure below this median.

• G.D Nagar: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar: Rs 3,300 per sq.ft (2024)
• Garden Homes: Rs 2,700 per sq.ft (2024)
• Gopalapuram: Rs 3,350 per sq.ft (2024)
• Gothandaraman Nagar: Rs 4,000 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Glory Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty is charged at 7%, totaling Rs 1,68,000, and the registration fee at 2% amounts to Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Glory Nagar?

The Sub Registrar Office that covers Glory Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

Frequently asked questions

What is the current guideline value of Glory Nagar?

The current guideline value of Glory Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Glory Nagar?

The land classification for Glory Nagar is Residential Special Type - I, indicating its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Glory Nagar?

The stamp duty for properties in Glory Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.