Guideline Value for Girigori Street 2nd Cross Street

Girigori Street 2nd Cross Street guideline value

The current guideline value of Girigori Street 2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Girigori Street 2nd Cross Street has changed

The guideline value for Girigori Street 2nd Cross Street has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 360 per sq.ft in 2007, a substantial growth of 59%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a remarkable increase of 235%. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from the previous revision. The latest revision in 2024 has raised the guideline value to Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the year 2012 for this street. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Girigori Street 2nd Cross Street's 2024 figure below this median.

• Girigori Street Extension: Rs 1,980 per sq.ft (2024)
• Girigori Street Lane: Rs 1,980 per sq.ft (2024)
• Girigori Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Giri Square / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Girisqure ,1st Street,: Rs 1,980 per sq.ft (2024)
• Girisqure , 2nd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Girigori Street 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Girigori Street 2nd Cross Street?

The Sub Registrar Office that covers Girigori Street 2nd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for negotiations between buyers and sellers. It provides a reference point for both parties to understand the value of the property based on the official register, facilitating a smoother transaction process.

Frequently asked questions

What is the current guideline value of Girigori Street 2nd Cross Street?

The current guideline value of Girigori Street 2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890% over this period.

What are the stamp duty and registration fees for property in Girigori Street 2nd Cross Street?

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 1,78,200.

Which Sub Registrar Office covers Girigori Street 2nd Cross Street?

The Pammal Sub Registrar Office covers Girigori Street 2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Girigori Street 2nd Cross Street?

The land classification for Girigori Street 2nd Cross Street is Residential Class II Type - II, indicating its designated use for residential purposes.