Guideline Value for Good Will Nagar

Good Will Nagar guideline value

The current guideline value of Good Will Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village under the Chengleput Joint II SRO, classified as Mixed Special Type - I.

How the guideline value of Good Will Nagar has changed

The guideline value for Good Will Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, it saw a decrease of 33% to Rs 536 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 800 per sq.ft, and this will remain unchanged in the upcoming 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 220%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,550 per sq.ft. The median value for these streets is Rs 700 per sq.ft, making Good Will Nagar's 2024 figure of Rs 800 per sq.ft above the median.

• Gowtham Nagar: Rs 700 per sq.ft (2024)
• Green Park Avenue: Rs 700 per sq.ft (2024)
• Ganga Nagar: Rs 700 per sq.ft (2024)
• Guru Avenue: Rs 700 per sq.ft (2024)
• Guru Ganesh Nagar: Rs 800 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Good Will Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It's 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 details.

Which Sub Registrar Office covers Good Will Nagar?

The Sub Registrar Office that covers Good Will Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kayirambedu, as it determines the amount of stamp duty and registration fees payable during the registration of property. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is sold or purchased, the guideline value serves as a reference point for the transaction. It is essential to understand that the guideline value may differ from the actual sale price, and the duty is charged on whichever amount is higher.

Frequently asked questions

What is the current guideline value of Good Will Nagar?

The current guideline value of Good Will Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 250 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally stabilized at Rs 800 per sq.ft in 2023 and 2024.

What is the land classification of Good Will Nagar?

Good Will Nagar is classified as Mixed Special Type - I under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where can I find the Sub Registrar Office for Good Will Nagar?

The Sub Registrar Office for Good Will Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.