Guideline Value for Golden George Nagar Vasantha Sreet

Golden George Nagar Vasantha Sreet guideline value

The current guideline value of Golden George Nagar Vasantha Sreet is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Golden George Nagar Vasantha Sreet has changed

The guideline value for Golden George Nagar Vasantha Sreet has undergone several revisions over the years. In 2002, the value was Rs 371 per sq.ft, which increased to Rs 715 per sq.ft in 2003. Following this, the value saw significant increases, reaching Rs 2,000 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it dropped to Rs 4,355 per sq.ft in 2017 before rising again to Rs 6,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 7,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,814%. The changes between revisions show a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, a substantial increase of 225% from 2007 to 2012, and a rise of 180% from 2003 to 2007. The register has no figure for the years not mentioned in the provided data.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Golden George Nagar Vasantha Sreet.

• Golden George Nagar Thirumathi Checheli Pushpam Street: Rs 7,100 per sq.ft (2024)
• Golden George Rathinam Salai: Rs 7,100 per sq.ft (2024)
• Golden George Nagar & Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Srinivasan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar S. Ettiappan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Samson Saroja Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Golden George Nagar Vasantha Sreet

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty is charged at 7%, which totals Rs 4,97,000, and the registration fee is 2%, amounting to Rs 1,42,000. Together, the total fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Golden George Nagar Vasantha Sreet?

The Konnur Sub Registrar Office covers Golden George Nagar Vasantha Sreet. The office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering properties in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the applicable costs, and it is essential for both parties to understand this value to avoid discrepancies during the registration process. The guideline value helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for Golden George Nagar Vasantha Sreet?

The current guideline value for Golden George Nagar Vasantha Sreet is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, increasing from Rs 371 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024. The most significant increase occurred from 2007 to 2012, with a rise of 225%.

What is the land classification for Golden George Nagar Vasantha Sreet?

The land classification for Golden George Nagar Vasantha Sreet is Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Golden George Nagar Vasantha Sreet?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty amounts to Rs 4,97,000.