Guideline Value for Girija Nagar West 1st Street

Girija Nagar West 1st Street guideline value

The current guideline value of Girija Nagar West 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Girija Nagar West 1st Street has changed

The guideline value for Girija Nagar West 1st Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, by 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a 33% drop. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

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

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Girija Nagar West 1st Street's 2024 guideline value above this median.

• Girija Nagar West: Rs 4,400 per sq.ft (2024)
• Girija Nagar West 2nd Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar East 2nd Street: Rs 4,400 per sq.ft (2024)
• Girija Nagar East 1st 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 West 1st 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, bringing the total to 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.

You can also use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Girija Nagar West 1st Street?

The Sub Registrar Office that covers Girija Nagar West 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the required fees, ensuring that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Girija Nagar West 1st Street?

The current guideline value of Girija Nagar West 1st 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 significantly, from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Girija Nagar West 1st Street?

The Sembiam Sub Registrar Office handles the registration for Girija Nagar West 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Girija Nagar West 1st Street?

The land classification for Girija Nagar West 1st Street is Residential Special Type - I.