Guideline Value for Girija Nagar East 2nd Street

Girija Nagar East 2nd Street guideline value

The current guideline value of Girija Nagar East 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Girija Nagar East 2nd Street has changed

The guideline value for Girija Nagar East 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this value decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a rise to Rs 4,000 per sq.ft, and the latest revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 340%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Girija Nagar East 2nd Street's current value above the median.

• Girija Nagar East 1st Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar West: Rs 4,400 per sq.ft (2024)
• Girija Nagar West 1st Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar West 2nd Street: Rs 4,400 per sq.ft (2024)
• Ganga Nagar: Rs 3,300 per sq.ft (2024)
• Golden Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Girija Nagar East 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Girija Nagar East 2nd Street?

The Sub Registrar Office that covers Girija Nagar East 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information about your local SRO by visiting find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the value of the property during registration, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the state.

Frequently asked questions

What is the current guideline value of Girija Nagar East 2nd Street?

The current guideline value of Girija Nagar East 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

What is the land classification for Girija Nagar East 2nd Street?

Girija Nagar East 2nd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000 for these fees.

Which Sub Registrar Office covers this area?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 covers Girija Nagar East 2nd Street.