Guideline Value for GULASEKARAALWAR STREET (WARD -5)

Gulasekaraalwar Street (Ward -5) guideline value

The current guideline value of Gulasekaraalwar Street (Ward -5) in Ninna Karai village is Rs 1,321 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Gulasekaraalwar Street (Ward -5) has changed

The guideline value for Gulasekaraalwar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 1,200 per sq.ft, which was then raised to Rs 1,321 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Gulasekaraalwar Street's 2024 figure above that median.

• Gunaveerar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Gundalakesi Street (Ward -8): Rs 1,321 per sq.ft (2024)
• G.S.T. Road (Ward -18): Rs 2,200 per sq.ft (2024)
• Haripriya Nagar (N): Rs 660 per sq.ft (2024)
• Gopolapuram (Sa): Rs 440 per sq.ft (2024)
• Gopola Krishnan Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Gulasekaraalwar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, resulting in a total of Rs 1,18,890. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gulasekaraalwar Street (Ward -5)?

The Sub Registrar Office covering Gulasekaraalwar Street (Ward -5) is 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 Ninna Karai

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gulasekaraalwar Street?

The current guideline value of Gulasekaraalwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the classification of Gulasekaraalwar Street?

Gulasekaraalwar Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Gulasekaraalwar Street?

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

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,21,000, the stamp duty at 7% would be Rs 92,470.