Guideline Value for GSP NAGAR

Gsp Nagar guideline value

The current guideline value of Gsp Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Gsp Nagar has changed

The guideline value of Gsp Nagar has seen several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 167 per sq.ft. In 2023, this figure increased significantly to Rs 250 per sq.ft, marking a 50% rise. The most recent revision in 2024 set the guideline value at Rs 275 per sq.ft, which is a further increase of 10% from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that there are no recorded figures for Gsp Nagar in the revisions for the years 2002, 2003, 2007, and 2012.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, placing Gsp Nagar's 2024 figure below this median.

• Harikrishna Sharma Nagar: Rs 330 per sq.ft (2024)
• Gopal Sharma Nagar: Rs 330 per sq.ft (2024)
• Indira Nagar: Rs 462 per sq.ft (2024)
• Geroge Nagar: Rs 330 per sq.ft (2024)
• Geetha Nagar: Rs 330 per sq.ft (2024)
• Jaganjeevanram Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Gsp Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty, charged at 7%, would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total fees together to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gsp Nagar?

The Sub Registrar Office that covers Gsp Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Athipattu. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers must be aware that the guideline value may differ from the actual sale price.

When registering a property, the higher value between the guideline value and the sale price is used to calculate the fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Gsp Nagar?

The current guideline value of Gsp Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, and finally to Rs 275 per sq.ft in 2024. This represents an overall increase of 65% from 2017 to 2024.

What is the median guideline value in Athipattu?

The median guideline value for the 108 streets in Athipattu is Rs 330 per sq.ft. Gsp Nagar's current guideline value is below this median.

What are the stamp duty and registration fees for Gsp Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,75,000. The stamp duty would be Rs 19,250 and the registration fee would be Rs 5,500, totaling Rs 24,750.

Which office handles property registrations in Gsp Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Gsp Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.