Guideline Value for GOOD WILL NAGAR EXTENSION

Good Will Nagar Extension guideline value

The current guideline value of Good Will Nagar Extension is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Good Will Nagar Extension has changed

In the 2017 revision, the guideline value was Rs 1,407 per sq.ft. This increased significantly to Rs 2,100 per sq.ft in the 2023 revision, marking a rise of 49%. The latest revision in 2024 saw another increase to Rs 2,310 per sq.ft, which is a 10% rise from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The current value of Rs 2,310 per sq.ft aligns with the median value of Rs 2,310 per sq.ft for the 411 streets in Perungalathur under the Padappai SRO.

Guideline values in Perungalathur

In Perungalathur, the guideline values range from Rs 1,320 to Rs 5,500 per sq.ft, with the median being Rs 2,310 per sq.ft. Good Will Nagar Extension's guideline value matches this median. Below are other streets in Perungalathur with their respective guideline values:

• Good Will Nagar: Rs 2,310 per sq.ft (2024)
• Gopal Nagar: Rs 2,970 per sq.ft (2024)
• Gokulam Apartments: Rs 2,310 per sq.ft (2024)
• George Theru: Rs 1,980 per sq.ft (2024)
• Harijon's Colony: Rs 1,650 per sq.ft (2024)
• Haritha Enclave (M.S.): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Good Will Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty, charged at 7%, would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200. Together, these fees amount to Rs 2,07,900. 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 details.

Which Sub Registrar Office covers Good Will Nagar Extension?

The Sub Registrar Office that covers Good Will Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when it comes to the registration of property in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost involved in the transaction. Buyers should be aware that the final registration fees will be calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Good Will Nagar Extension?

The current guideline value of Good Will Nagar Extension is Rs 2,310 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,407 per sq.ft to Rs 2,310 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Good Will Nagar Extension?

The land classification for Good Will Nagar Extension is Residential Class II Type - I.

Where is the Sub Registrar Office for Good Will Nagar Extension located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How do stamp duty and registration fees work in Good Will Nagar Extension?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,07,900.