Guideline Value for Geetha Nagar

Geetha Nagar guideline value

The current guideline value of Geetha Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Geetha Nagar has changed

The guideline value for Geetha Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 2,200 per sq.ft. This remained unchanged until the 2017 revision, which saw a significant drop to Rs 1,474 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49% back to Rs 2,200 per sq.ft, and it has remained at this level through the 2024 revision, showing no percentage change.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure, there is no change, as both are Rs 2,200 per sq.ft.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, placing Geetha Nagar's 2024 figure above this median.

• Ganthi Nagar: Rs 1,300 per sq.ft (2024)
• Golden Nagar: Rs 2,201 per sq.ft (2024)
• Ganesh Nagar: Rs 1,900 per sq.ft (2024)
• Greas Nagar: Rs 1,900 per sq.ft (2024)
• Grist Nagar: Rs 1,900 per sq.ft (2024)
• G.S.naidu Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Geetha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees amount to Rs 1,98,000. Please 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 Geetha Nagar?

The Sub Registrar Office that covers Geetha Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Puthagaram. 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.

When engaging in a property transaction, it is crucial to be aware of the current guideline value, as it directly affects the overall cost of registration. Buyers and sellers should ensure they have the latest information to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Geetha Nagar?

The current guideline value of Geetha Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 2,200 per sq.ft. It was previously Rs 1,474 per sq.ft in 2017, and Rs 2,200 per sq.ft in 2012.

What is the land classification for Geetha Nagar?

Geetha Nagar is classified as Residential Special Type - III, indicating its specific zoning for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.