Guideline Value for Gattu Street

Gattu Street guideline value

The current guideline value of Gattu Street in Arani village under the Arani_Tiruvallur SRO is Rs 300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - III.

How the guideline value of Gattu Street has changed

The guideline value of Gattu Street has seen several revisions over the years. In 2002, the value was Rs 54 per sq.ft, which increased to Rs 61 per sq.ft in 2003, marking a 13% rise. The value then rose significantly to Rs 150 per sq.ft in 2007, reflecting a 146% increase. Following this, the guideline value jumped to Rs 300 per sq.ft in 2012, representing a 100% increase. However, it decreased to Rs 201 per sq.ft in 2017, a decline of 33%. The value remained at Rs 300 per sq.ft in 2023, and there was no change in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 456%. The register has no figures for the revisions in the years not listed, and thus we do not have values for those periods.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with the median being Rs 300 per sq.ft. Gattu Street's 2024 guideline value is equal to this median.

• Gattu Namasivayam Street: Rs 500 per sq.ft (2024)
• Gokulam Avenue: Rs 335 per sq.ft (2024)
• Green Garden: Rs 200 per sq.ft (2024)
• Hariprasad Nagar: Rs 300 per sq.ft (2024)
• High Road towards Puduvoyal { Upto Ananda Theatre }: Rs 400 per sq.ft (2024)
• Erular Colony: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Gattu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gattu Street?

The Sub Registrar Office that covers Gattu Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in establishing a fair basis for the costs involved, including taxes and fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gattu Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 54 per sq.ft in 2002 to Rs 300 per sq.ft in 2024, with various increases and one decrease over the years.

What is the land classification for Gattu Street?

Gattu Street is classified as Residential Class II Type - III.

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

The Sub Registrar Office for Gattu Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.

How is the stamp duty calculated for property in Gattu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 27,000.