Guideline Value for Giri Nagar 3rd Street

Giri Nagar 3rd Street guideline value

The current guideline value of Giri Nagar 3rd Street is Rs 2,750 per sq.ft. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Giri Nagar 3rd Street has changed

The guideline value for Giri Nagar 3rd Street has seen several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 2,750 per sq.ft, which is an increase from Rs 2,500 per sq.ft in the 2023 revision. This represents a 10% increase from the previous year. Looking back further, the value was Rs 1,675 per sq.ft in 2017, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision had the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

For the years 2002, 2003, and 2007, the register has no figure for Giri Nagar 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Giri Nagar 3rd Street's 2024 figure below that median.

• Giri Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Giri Nagar Annexe: Rs 2,750 per sq.ft (2024)
• Giri Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Giri Nagar: Rs 2,750 per sq.ft (2024)
• Gangaiya Avenue: Rs 1,950 per sq.ft (2024)
• Gangai Ammn Koil North Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Giri Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Giri Nagar 3rd Street?

The Sub Registrar Office that covers Giri Nagar 3rd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the registration process.

When you buy or sell a property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the local authorities. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Giri Nagar 3rd Street?

The current guideline value of Giri Nagar 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, with various revisions in between including Rs 2,500 per sq.ft in 2023 and 2012.

What is the land classification for Giri Nagar 3rd Street?

The land classification for Giri Nagar 3rd Street is Residential Class II Type - II.

Where can I find the registration office for Giri Nagar 3rd Street?

The registration office for Giri Nagar 3rd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Giri Nagar 3rd 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 guideline value would be Rs 27,50,000, resulting in a stamp duty of Rs 1,92,500.