Guideline Value for GirijaNagar

GirijaNagar guideline value

The current guideline value of GirijaNagar, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - III land classification.

How the guideline value of GirijaNagar has changed

The guideline value of GirijaNagar has seen several revisions over the years. In 2002, the value was Rs 272 per sq.ft. This increased to Rs 441 per sq.ft in 2003, marking a change of +62%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, which was an increase of +81%. In 2012, the value was Rs 3,100 per sq.ft, reflecting a significant increase of +288%. However, it then dropped to Rs 2,077 per sq.ft in 2017, a decrease of -33%. The value saw a substantial rise again, reaching Rs 3,100 per sq.ft in 2023, which was an increase of +49%. Finally, the current guideline value is Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1150%. The register has no figures for the years in between these revisions for this street.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the current guideline value of GirijaNagar.

• Ganthi Nagar Link Road: Rs 3,400 per sq.ft (2024)
• Gandhi Nagar Street/Main Road: Rs 3,400 per sq.ft (2024)
• Iluppai Thopu: Rs 3,400 per sq.ft (2024)
• Indira Gandhi Nagar: Rs 3,400 per sq.ft (2024)
• Ennur High Road: Rs 3,400 per sq.ft (2024)
• Eluthukkaran Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in GirijaNagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total fees together Rs 3,06,000. 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 further calculations.

Which Sub Registrar Office covers GirijaNagar?

The Sub Registrar Office that covers GirijaNagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property. Buyers and sellers must be aware of the guideline value to ensure that they pay the correct fees during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of GirijaNagar?

The current guideline value of GirijaNagar is Rs 3,400 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 272 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, representing an overall increase of +1150% over the years.

What are the stamp duty rates in GirijaNagar?

The stamp duty rate in GirijaNagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for GirijaNagar?

The Thiruvottiyur Sub Registrar Office handles registrations for GirijaNagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for GirijaNagar?

GirijaNagar falls under the Residential Special Type - III land classification, which is important for understanding the usage and regulations applicable to properties in this area.