Guideline Value for Giri Street

Giri Street guideline value

The current guideline value of Giri Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Giri Street has changed

The guideline value for Giri Street has seen several revisions over the years. In 2002, the value was Rs 166 per sq.ft, which increased to Rs 186 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, marking a 438% increase. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, representing a 150% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023 and finally reached Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1587%. There are no figures available for revisions in years other than those listed.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is the same as the guideline value for Giri Street.

• Gayathri Street: Rs 2,800 per sq.ft (2024)
• Gayathri Nagar: Rs 2,800 per sq.ft (2024)
• Gopalakrishnan Gokale Street: Rs 2,800 per sq.ft (2024)
• Gopinathan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Gopinathan 3rd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Giri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees together Rs 2,52,000. 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 detailed calculations.

Which Sub Registrar Office covers Giri Street?

The Sub Registrar Office that covers Giri Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ullagaram. It serves as a benchmark for the registration process, ensuring that properties are registered at a value that reflects the current market conditions as determined by the government.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal transactions. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Giri Street?

The current guideline value of Giri Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 166 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1587% over the years.

What is the land classification of Giri Street?

Giri Street is classified as Residential Class II Type - I according to the land classification guidelines.

What are the stamp duty and registration fees for property in Giri Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

Where is the Sub Registrar Office for Giri Street located?

The Alandur Sub Registrar Office, which covers Giri Street, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.