Guideline Value for GNT ROAD

Gnt Road guideline value

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

How the guideline value of Gnt Road has changed

The guideline value for Gnt Road has seen several revisions over the years. Starting from Rs 200 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007. The value then rose to Rs 1,500 per sq.ft in 2012, before decreasing to Rs 1,005 per sq.ft in 2017. Following this, the value jumped to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,650 per sq.ft in 2024.

Examining the percentage changes, the value increased by 200% from 2003 to 2007, decreased by 33% from 2012 to 2017, and saw a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 725% from 2003 to 2024. The register has no figure for this street for the year 2002.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value is Rs 660 per sq.ft, placing Gnt Road's 2024 figure above this median.

• Gomathiamman Nagar Annex XVIII: Rs 550 per sq.ft (2024)
• Gandthi Street: Rs 660 per sq.ft (2024)
• Indra Garden: Rs 770 per sq.ft (2024)
• Jai Sai Nagar: Rs 1,320 per sq.ft (2024)
• Diamond City: Rs 550 per sq.ft (2024)
• Kakkan 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 amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. 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 more detailed calculations.

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 Sholavaram

The guideline value is a crucial factor when buying or selling property in Sholavaram, as it determines the minimum price at which a property can be registered. This value helps in calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

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 200 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting a significant increase of 725% overall.

What is the land classification for Gnt Road?

Gnt Road is classified as Commercial Class I Type - I under the Redhills SRO.

Where is the Redhills Sub Registrar Office located?

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

How is stamp duty calculated for properties on Gnt Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.