Guideline Value for GV Nagar

GV Nagar guideline value

The current guideline value of GV Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Nariyampakkam village, under the Sriperumpudur SRO, and is classified as Mixed Type - II land.

How the guideline value of GV Nagar has changed

The guideline value for GV Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This remained unchanged in the 2017 revision, where it was still Rs 600 per sq.ft. However, in the 2017 to 2023 period, the guideline value increased significantly by 49% to Rs 600 per sq.ft. The 2024 revision has maintained this value at Rs 600 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. The previous revision before 2012 was in 2017, which had a value of Rs 402 per sq.ft, reflecting a decrease of 33% from the 2012 figure. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 600 per sq.ft.

Guideline values in Nariyampakkam

In Nariyampakkam, there are 17 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing the 2024 guideline value of GV Nagar above that median.

• Hindu Nagar: Rs 250 per sq.ft (2024)
• Jeya Nagar: Rs 250 per sq.ft (2024)
• Kaliamman Koil Street: Rs 250 per sq.ft (2024)
• Annai Indira Gandhi Salai: Rs 250 per sq.ft (2024)
• Alwar Thiru Nagar: Rs 300 per sq.ft (2024)
• Pallavan street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in GV Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the 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 GV Nagar?

The Sub Registrar Office that covers GV Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nariyampakkam. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can also influence the sale price, as it provides a benchmark for buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of GV Nagar?

The current guideline value of GV Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What are the other streets in Nariyampakkam and their guideline values?

Other streets in Nariyampakkam include Hindu Nagar, Jeya Nagar, Kaliamman Koil Street, Annai Indira Gandhi Salai, Alwar Thiru Nagar, and Pallavan street, with values ranging from Rs 250 to Rs 300 per sq.ft in 2024.

What is the stamp duty rate for properties in GV Nagar?

The stamp duty rate for properties in GV Nagar is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for GV Nagar?

The Sub Registrar Office for GV Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by following the provided link.