Guideline Value for Giri Street

Giri Street guideline value

The current guideline value of Giri Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Giri Street has changed

The guideline value for Giri Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 272% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, reflecting a drop of 33%. The value climbed again to Rs 4,500 per sq.ft in 2023, and the most recent revision shows an increase to Rs 4,900 per sq.ft in 2024, a change of 9% from the previous year.

In total, from 2007 to 2024, the guideline value for Giri Street has increased by 305%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. Giri Street's 2024 guideline value of Rs 4,900 per sq.ft is equal to the median value for the area.

• Gnanamani Street: Rs 4,100 per sq.ft (2024)
• Gnanaoli Street: Rs 4,900 per sq.ft (2024)
• Gnanavadivu Street: Rs 3,300 per sq.ft (2024)
• Gokulam Colony: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 4th Street: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 3rd Street: Rs 6,000 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 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost to Rs 4,41,000. 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 further calculations.

Which Sub Registrar Office covers Giri Street?

The Sub Registrar Office that covers Giri Street is the Ashok Nagar 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 Kodambakkam

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the minimum value for registration purposes, ensuring that properties are registered at a fair value based on the prevailing rates in the area.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs that need to be considered during the transaction process.

Frequently asked questions

What is the current guideline value of Giri Street?

The current guideline value of Giri Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and increases in subsequent years.

What is the registration office for Giri Street?

The registration office for Giri Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Giri Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 3,43,000.

What are the other streets in Kodambakkam with guideline values?

Other streets in Kodambakkam include Gnanamani Street at Rs 4,100 per sq.ft, Gnanaoli Street at Rs 4,900 per sq.ft, and Gokulam Colony at Rs 6,000 per sq.ft, among others.