Guideline Value for GRAND CITY

Grand City guideline value

The current guideline value of Grand City in Pazhaveli village, under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - III.

How the guideline value of Grand City has changed

The guideline value for Grand City has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 469 per sq.ft, and the 2012 revision also had a guideline value of Rs 700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Looking at the changes, from 2017 to 2023, there was an increase of 49%. However, from 2012 to 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, there has been no change, maintaining the value at Rs 700 per sq.ft.

Guideline values in Pazhaveli

In addition to Grand City, there are other streets in Pazhaveli that have their own guideline values. The current guideline value for Prp Garden is also Rs 700 per sq.ft (2024). Below are the other streets in Pazhaveli:

• Prp Garden: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Grand City

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Grand City?

The Chengleput Joint II Sub Registrar Office covers Grand City, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Pazhaveli. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Grand City?

The current guideline value of Grand City is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023 and 2024, with a decrease of 33% from 2012 to 2017.

What is the stamp duty rate for property in Grand City?

The stamp duty rate for property in Grand City is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring compliance with local regulations.