Guideline Value for Girigori Street Lane

Girigori Street Lane guideline value

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

How the guideline value of Girigori Street Lane has changed

The guideline value for Girigori Street Lane has seen significant changes over the years. Starting from Rs 200 in 2002, the value increased to Rs 226 in 2003, marking a 13% rise. The subsequent revisions showed a more substantial increase, with the value reaching Rs 360 in 2007, a 59% increase from the previous figure. By 2017, the guideline value surged to Rs 1,206, reflecting a remarkable 235% increase. The value further escalated to Rs 1,800 in 2023, a 49% rise, and finally to Rs 1,980 in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2012.

Overall, from 2002 to 2024, the guideline value has increased by 890%. This consistent rise highlights the evolving real estate landscape in the area.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, which ranges from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, making the guideline value of Girigori Street Lane below that median.

• Girigori Street Extension: Rs 1,980 per sq.ft (2024)
• Girigori Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Girigori Street 2nd Cross Street: 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 Lane

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 fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Girigori Street Lane?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Girigori Street Lane?

The current guideline value of Girigori Street Lane 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 changed significantly from Rs 200 in 2002 to Rs 1,980 in 2024, representing an overall increase of 890% over this period.

What are the other streets in Pammal with similar guideline values?

Other streets in Pammal with the same guideline value of Rs 1,980 per sq.ft include Girigori Street Extension, Girigori Street / Pasumpon Nagar, Girigori Street 2nd Cross Street, and Girisqure ,1st Street.

What is the registration fee for property in Girigori Street Lane?

The registration fee for property in Girigori Street Lane is calculated at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.