Guideline Value for Giri Nagar

Giri Nagar guideline value

The current guideline value of Giri Nagar, located in Puthupattu village, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Class I Type - I.

How the guideline value of Giri Nagar has changed

The guideline value for Giri Nagar has seen several revisions over the years. Starting from the 2007 revision at Rs 20 per sq.ft, it increased significantly to Rs 80 per sq.ft in 2012. However, there was a decrease to Rs 54 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 100 per sq.ft, which remained unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, the guideline value increased by 85%. The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puthupattu

In Puthupattu, there are six streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 250 per sq.ft. Giri Nagar's 2024 figure is below this median.

• Rasi Nagar: Rs 100 per sq.ft (2024)
• Sriram Society Nagar: Rs 250 per sq.ft (2024)
• Vijai Raja Nagar: Rs 250 per sq.ft (2024)
• Vijaj Raja Nagar: Rs 250 per sq.ft (2024)
• Vasanthi Gopalan Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Giri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, leading to a total of Rs 9,000. 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 more details.

Which Sub Registrar Office covers Giri Nagar?

The Sub Registrar Office that covers Giri Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthupattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Giri Nagar?

The current guideline value of Giri Nagar is Rs 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 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, showing an overall increase of 400% over the years.

What are the other streets in Puthupattu with guideline values?

Other streets in Puthupattu include Rasi Nagar, Sriram Society Nagar, Vijai Raja Nagar, Vijaj Raja Nagar, and Vasanthi Gopalan Nagar, with values ranging from Rs 100 to Rs 250 per sq.ft in 2024.

What fees are associated with buying property in Giri Nagar?

When buying property in Giri Nagar, buyers need to pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Giri Nagar located?

The Madurandakam Sub Registrar Office, which covers Giri Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.