Guideline Value for GRACE NAGAR EXTN

Grace Nagar Extn guideline value

The current guideline value for Grace Nagar Extn is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Grace Nagar Extn has changed

Over the years, the guideline value for Grace Nagar Extn has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision had a lower value of Rs 335 per sq.ft, marking a decrease of 33% from the 2012 figure. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft.

The transition from the 2017 revision to the 2023 revision saw a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. The most recent revision in 2024 has maintained this value, showing no percentage change from the previous year.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the 2024 figure for Grace Nagar Extn.

• Grace Nagar: Rs 400 per sq.ft (2024)
• G K Nagar: Rs 335 per sq.ft (2024)
• Indhira Nagar (Extn): Rs 700 per sq.ft (2024)
• Indhira Nagar Part-II & III: Rs 700 per sq.ft (2024)
• Gandhi Nagar Extension-II: Rs 500 per sq.ft (2024)
• Gandhi Nagar Extension-I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Grace Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, resulting in Rs 35,000, while the registration fee is 2%, amounting to Rs 10,000. Together, the total fees would be Rs 45,000. 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 Grace Nagar Extn?

The Sub Registrar Office that covers Grace Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Orathur, the guideline value will be used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration process. This value helps in assessing the financial obligations related to the transaction, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Grace Nagar Extn?

The current guideline value of Grace Nagar Extn is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a notable increase from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and it has remained unchanged in 2024.

What is the land classification of Grace Nagar Extn?

Grace Nagar Extn is classified as Residential Special Type - II, which indicates its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Grace Nagar Extn?

Stamp duty for properties in Grace Nagar Extn is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.