Guideline Value for Gans Road

Gans Road guideline value

The current guideline value of Gans Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gans Road has changed

The guideline value for Gans Road has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 175% rise. However, it then decreased to Rs 3,685 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 5,500 per sq.ft in 2023, before reaching the current rate of Rs 6,000 per sq.ft in 2024, which is a 9% increase from the previous year.

There are no figures available for Gans Road in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 200%, showcasing significant changes over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Gans Road is above this median.

• General Collins Road (ChurchRoad): Rs 7,000 per sq.ft (2024)
• Govinda Naick Street: Rs 4,800 per sq.ft (2024)
• Govindaraj Street: Rs 4,800 per sq.ft (2024)
• Govinda Singh Lane: Rs 4,800 per sq.ft (2024)
• Govinda Singh Street: Rs 4,800 per sq.ft (2024)
• Gandhi Irwin Road: Rs 22,000 per sq.ft (2024)

Stamp duty and registration fee for property in Gans Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty is charged at 7%, which equals Rs 4,20,000, and the registration fee is 2%, amounting to Rs 1,20,000. Together, these fees total Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gans Road?

The Sub Registrar Office that covers Gans Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value as determined by the government. This helps maintain transparency in property transactions and ensures that the state receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Gans Road?

The current guideline value of Gans Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Gans Road has changed from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What are the other streets in Vepery with their guideline values?

Other streets in Vepery include General Collins Road (ChurchRoad) at Rs 7,000 per sq.ft, and several streets like Govinda Naick Street, Govindaraj Street, Govinda Singh Lane, and Govinda Singh Street all at Rs 4,800 per sq.ft. Gandhi Irwin Road has the highest value at Rs 22,000 per sq.ft.

What are the stamp duty and registration fees for properties on Gans Road?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Gans Road?

The Sub Registrar Office that covers Gans Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.