Guideline Value for GST ROAD

Gst Road guideline value

The current guideline value of Gst Road in Thirukkachur - 1 village is Rs 2,750 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Gst Road has changed

The guideline value for Gst Road has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous revision.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 revision recorded a value of Rs 2,500 per sq.ft, which was a 49% increase from the 2017 figure. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, making the Gst Road value above this median.

• Happinest: Rs 1,320 per sq.ft (2024)
• Industrial Ariya Thirukatchur: Rs 2,200 per sq.ft (2024)
• Gandhi Street: Rs 550 per sq.ft (2024)
• Ganapathy Nagar (Chen): Rs 660 per sq.ft (2024)
• Jeeva Nagar: Rs 550 per sq.ft (2024)
• Jeevanatham Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Gst Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 Gst Road?

The Gst Road is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value is a crucial reference point during property transactions in Thirukkachur - 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value of the property being transferred.

When registering a property, the guideline value helps determine the legal value of the transaction, which can influence the fees payable to the government. This ensures transparency and a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Gst Road?

The current guideline value of Gst Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Gst Road?

The land classification for Gst Road is Residential Special Type - I.

How is the stamp duty calculated for properties on Gst Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,92,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Gst Road?

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