Guideline Value for George Enclave

George Enclave guideline value

The current guideline value for George Enclave in Naduvakkarai village is Rs 11,000 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Residential Class I Type - II.

How the guideline value of George Enclave has changed

Looking at the revisions, the guideline value for George Enclave has seen significant changes over the years. In 2007, the guideline value was Rs 2,300 per sq.ft. This increased to Rs 10,000 per sq.ft in 2012, a rise of 335%. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, marking a decline of 33%. The value then increased to Rs 10,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 11,000 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 378%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

In Naduvakkarai, there are 148 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, placing George Enclave's 2024 figure below that median.

• Indira Nagar: Rs 3,300 per sq.ft (2024)
• Ellappa Street: Rs 5,500 per sq.ft (2024)
• Dr. Radhakrishnan Nagar: Rs 5,400 per sq.ft (2024)
• Brevery Road: Rs 11,000 per sq.ft (2024)
• Block AD 4th Street -25’: Rs 11,500 per sq.ft (2024)
• Block AD 3rd Street -25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in George Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers George Enclave?

The Sub Registrar Office that covers George Enclave is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Naduvakkarai. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the registration process. The higher of the guideline value or the sale price will be used to calculate these charges.

When buyers and sellers engage in property transactions, the guideline value ensures that the government receives appropriate revenue from property registrations. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for George Enclave?

The current guideline value for George Enclave is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,300 per sq.ft to Rs 11,000 per sq.ft in 2024, reflecting a significant overall increase of 378%.

What is the median guideline value for streets in Naduvakkarai?

The median guideline value for the 148 streets in Naduvakkarai is Rs 11,500 per sq.ft, with George Enclave's value being below this median.

What are the stamp duty and registration fees for a property in George Enclave?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,90,000.

Which office handles property registrations for George Enclave?

The AnnaNagar Sub Registrar Office handles property registrations for George Enclave, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.