Guideline Value for Girija Nagar

Girija Nagar guideline value

The current guideline value of Girija Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Girija Nagar has changed

The guideline value for Girija Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 500% rise. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a decline of 33%. The value then rose to Rs 900 per sq.ft in 2023, before reaching the current figure of Rs 990 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Girija Nagar's 2024 figure below this median.

• Garden City Extension: Rs 1,100 per sq.ft (2024)
• Garden City: Rs 1,100 per sq.ft (2024)
• Gogul Nagar: Rs 1,320 per sq.ft (2024)
• Gomathi Nagar: Rs 1,650 per sq.ft (2024)
• Gopal Nagar: Rs 1,320 per sq.ft (2024)
• Ganesaburam: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Girija Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800. Together, these fees total Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Girija Nagar?

The Sub Registrar Office that covers Girija Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Varadarajapuram. It serves as a reference point for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Girija Nagar?

The current guideline value of Girija Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What are the stamp duty and registration fees for property in Girija Nagar?

For a 1,000 sq.ft plot, the total guideline value would be Rs 9,90,000. The stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Girija Nagar?

The Padappai Sub Registrar Office covers Girija Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Girija Nagar?

The land classification for Girija Nagar is Residential Class III Type - I, indicating its designated use for residential purposes.