Guideline Value for GNT ROAD

Gnt Road guideline value

The current guideline value of Gnt Road in Vijayanallur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential 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. Starting with Rs 100 per sq.ft in 2003, it increased significantly to Rs 400 per sq.ft in 2007, marking a 300% rise. The value then rose to Rs 2,000 per sq.ft in 2012, reflecting a 400% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, which was a 33% drop. The subsequent revision in 2023 saw a rise to Rs 2,000 per sq.ft, and finally, the current value is Rs 2,200 per sq.ft as of 2024, representing a 10% increase from 2023.

It is important to note that the register has no figure for Gnt Road in 2002. Overall, from 2003 to 2024, the guideline value has increased by 2100%.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 540 per sq.ft, placing Gnt Road's value above this median.

• Jayalakshmi Nagar: Rs 550 per sq.ft (2024)
• Kalikambal Nagar: Rs 440 per sq.ft (2024)
• Kalpaga Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Baby Enclave: Rs 540 per sq.ft (2024)
• Anna Nagar: Rs 440 per sq.ft (2024)
• Mamannar Maruthupandiar Nagar: Rs 440 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Gnt Road?

The Sub Registrar Office covering 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 Vijayanallur

The guideline value is a crucial factor when buying or selling property in Vijayanallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. 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 Gnt Road?

The current guideline value of Gnt Road is Rs 2,200 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 2,200 per sq.ft in 2024, reflecting a total increase of 2100% over this period.

What is the registration office for Gnt Road?

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

How is stamp duty calculated for properties in Gnt Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.

What are the other streets in Vijayanallur with guideline values?

Other streets in Vijayanallur include Jayalakshmi Nagar, Kalikambal Nagar, Kalpaga Nagar Annexe, Baby Enclave, Anna Nagar, and Mamannar Maruthupandiar Nagar, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft.