Guideline Value for Gomathiamman Nagar Annex XVIII

Gomathiamman Nagar Annex XVIII guideline value

The current guideline value of Gomathiamman Nagar Annex XVIII is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Sholavaram village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Gomathiamman Nagar Annex XVIII has changed

The guideline value for Gomathiamman Nagar Annex XVIII has seen several revisions over the years. Starting from Rs 28 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007, marking a 614% rise. The value then rose to Rs 500 per sq.ft in 2012, but saw a decrease of 33% to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, followed by the 2024 revision, which increased it to Rs 550 per sq.ft, a 10% increase.

In summary, the guideline value has changed from Rs 28 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 1864%. The register has no figure for the year 2002 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value is Rs 660 per sq.ft, placing Gomathiamman Nagar Annex XVIII below this median.

• Gnt Road: Rs 1,650 per sq.ft (2024)
• Gandthi Street: Rs 660 per sq.ft (2024)
• Indra Garden: Rs 770 per sq.ft (2024)
• Jai Sai Nagar: Rs 1,320 per sq.ft (2024)
• Kakkan Street: Rs 550 per sq.ft (2024)
• Diamond City: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Gomathiamman Nagar Annex XVIII

For a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%, and the registration fee would be Rs 11,000 at 2%. Together, the total fees would amount to Rs 49,500. 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 detailed calculations.

Which Sub Registrar Office covers Gomathiamman Nagar Annex XVIII?

The Sub Registrar Office that covers Gomathiamman Nagar Annex XVIII is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Sholavaram. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling property, the guideline value helps establish a baseline for the transaction, ensuring that the sale price aligns with the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gomathiamman Nagar Annex XVIII?

The current guideline value of Gomathiamman Nagar Annex XVIII is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 28 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, with various increases and decreases over the years.

What is the median guideline value in Sholavaram?

The median guideline value in Sholavaram is Rs 660 per sq.ft for the year 2024.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees amount to Rs 49,500.

Which office handles property registrations in Gomathiamman Nagar Annex XVIII?

The Redhills Sub Registrar Office handles property registrations for Gomathiamman Nagar Annex XVIII, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.