Guideline Value for Gem Extension

Gem Extension guideline value

The current guideline value of Gem Extension, a village in Sevilimadu - A, is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification and is managed by the Kanchipuram Joint II SRO.

How the guideline value of Gem Extension has changed

The guideline value for Gem Extension has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, reflecting a significant rise of 49%. The latest revision in 2024 has set the value at Rs 1,100 per sq.ft, marking a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sevilimadu - A

In Sevilimadu - A, there are 58 streets under the Kanchipuram Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, which is the same as the guideline value for Gem Extension.

• Gem Avenue: Rs 1,100 per sq.ft (2024)
• Gandhi Nagar: Rs 1,100 per sq.ft (2024)
• Gurusamy Nagar: Rs 875 per sq.ft (2024)
• Housing Board: Rs 1,100 per sq.ft (2024)
• Ellappa Nagar: Rs 1,100 per sq.ft (2024)
• Dr. J.J. Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gem Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty is calculated at 7%, amounting to Rs 77,000, while the registration fee is 2%, totaling Rs 22,000. Therefore, the combined fees come to Rs 99,000. It is important to note that 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 more precise calculations.

Which Sub Registrar Office covers Gem Extension?

The Sub Registrar Office that covers Gem Extension is the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sevilimadu - A

The guideline value plays a crucial role in the registration process when buying or selling property in Sevilimadu - A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gem Extension?

The current guideline value of Gem Extension is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and now to Rs 1,100 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the guideline values of other streets in Sevilimadu - A?

Other streets in Sevilimadu - A have varying guideline values. For instance, Gem Avenue and Gandhi Nagar are both valued at Rs 1,100 per sq.ft, while Gurusamy Nagar is valued at Rs 875 per sq.ft.

What is the stamp duty rate for properties in Gem Extension?

The stamp duty rate for properties in Gem Extension is 7% of the guideline value or sale price, whichever is higher. This is in addition to a registration fee of 2%.

Where can I find the Sub Registrar Office for Gem Extension?

The Sub Registrar Office for Gem Extension is the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501. You can find more details online.