Guideline Value for GNT ROAD

Gnt Road guideline value

The current guideline value of Gnt Road in Sembulivaram village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Gnt Road has changed

The guideline value for Gnt Road has undergone several revisions over the years. The earliest recorded value is from 2003, set at Rs 100 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 500% rise. In 2012, the value was revised to Rs 1,500 per sq.ft, which represented a decrease of 33% from the previous revision. The value then saw an increase to Rs 1,005 per sq.ft in 2017, followed by a substantial jump to Rs 1,500 per sq.ft in 2023, an increase of 49%. The latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for Gnt Road in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1550%.

Guideline values in Sembulivaram

In Sembulivaram, there are 16 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 1,210 per sq.ft. Gnt Road's 2024 figure is above this median.

• Eswaran Koil Street: Rs 1,210 per sq.ft (2024)
• Daffodil Garden: Rs 1,210 per sq.ft (2024)
• Chengalamman Nagar: Rs 1,650 per sq.ft (2024)
• K.J. Hospital 1st Street: Rs 550 per sq.ft (2024)
• K.J. Hospital 2nd Street: Rs 550 per sq.ft (2024)
• K.J. Hospital Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Gnt Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnt Road?

The Sub Registrar Office that covers Gnt Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembulivaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented at a fair price as per government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers must consider these costs in addition to the sale price of the property.

Frequently asked questions

What is the current guideline value of Gnt Road?

The current guideline value of Gnt Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1550% over the years.

What is the registration fee for property in Gnt Road?

The registration fee for property in Gnt Road is calculated at 2% of the guideline value. For example, if the guideline value is Rs 16,50,000, the registration fee would be Rs 33,000.

Where is the Sub Registrar Office for Gnt Road located?

The Sub Registrar Office covering Gnt Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What other streets are in Sembulivaram?

Other streets in Sembulivaram include Eswaran Koil Street, Daffodil Garden, Chengalamman Nagar, and several K.J. Hospital streets, with guideline values ranging from Rs 550 to Rs 1,650 per sq.ft.