Guideline Value for Girija Nagar West

Girija Nagar West guideline value

The current guideline value of Girija Nagar West 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 West has changed

The guideline value for Girija Nagar West has seen several revisions over the years. Starting from Rs 477 per sq.ft in 2003, it increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 110%. The value then jumped to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, the guideline value has increased by 822% from 2003 to 2024.

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 guideline value in this area is Rs 3,300 per sq.ft, making Girija Nagar West's current value of Rs 4,400 per sq.ft above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees together 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Girija Nagar West?

The Sub Registrar Office that covers Girija Nagar West 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 when buying or selling property in Kolathur, as it determines the minimum value at which a property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the actual sale price.

During the registration process, the guideline value ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from stamp duty. This value is regularly updated to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Girija Nagar West?

The current guideline value of Girija Nagar West 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 477 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 822%.

What is the land classification of Girija Nagar West?

Girija Nagar West is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Girija Nagar West?

Stamp duty for properties in Girija Nagar West is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.