Guideline Value for Gaililiapuram

Gaililiapuram guideline value

The current guideline value of Gaililiapuram is Rs 14,300 per sq.ft, effective from 1 July 2024. This village falls under the Chennai Central Joint I SRO and is classified as Residential Special Type - IV.

How the guideline value of Gaililiapuram has changed

Over the years, the guideline value for Gaililiapuram has seen several revisions. The most recent revision in 2024 set the value at Rs 14,300 per sq.ft, an increase of 10% from the previous year's figure of Rs 13,000 per sq.ft in 2023. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has moved from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. The changes reflect a consistent upward trend in the valuation of properties in this area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for this area is Rs 8,800 per sq.ft, making the 2024 guideline value of Gaililiapuram above this median.

• Ganapathy Colony: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony 1st Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony 2nd Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony 3rd Street: Rs 8,700 per sq.ft (2024)
• Ganapathy Colony Main Road: Rs 8,700 per sq.ft (2024)
• Ganapathy Mudali Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gaililiapuram

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. 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 Gaililiapuram?

The Gaililiapuram area is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor in the registration process when buying or selling property in Mylapore Part 1. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers to accurately assess the costs involved in property transactions. It is essential to consider the current guideline value to ensure compliance with local regulations during the buying or selling process.

Frequently asked questions

What is the current guideline value of Gaililiapuram?

The current guideline value of Gaililiapuram is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% rise.

What are the other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 include Ganapathy Colony, Ganapathy Colony 1st Street, Ganapathy Colony 2nd Street, Ganapathy Colony 3rd Street, Ganapathy Colony Main Road, and Ganapathy Mudali Street, all valued at Rs 8,700 per sq.ft in 2024.

Where is the Sub Registrar Office for Gaililiapuram located?

The Sub Registrar Office covering Gaililiapuram is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Gaililiapuram?

Stamp duty for properties in Gaililiapuram is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,300 per sq.ft, the stamp duty would be 7% of the guideline value.