Guideline Value for Gragapriya Nagar

Gragapriya Nagar guideline value

The current guideline value of Gragapriya Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Nemili village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Gragapriya Nagar has changed

Over the years, the guideline value for Gragapriya Nagar has seen several revisions. The 2007 revision recorded a value of Rs 55 per sq.ft, which increased significantly to Rs 300 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 201 per sq.ft. The subsequent revisions in 2023 and 2024 maintained the value at Rs 300 per sq.ft, showing no change from the previous year.

The overall change from the 2007 revision to the 2024 revision is an increase of 445%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Gragapriya Nagar's 2024 figure of Rs 300 per sq.ft is above this median.

• Gowthami Nagar (Gowthami Estates): Rs 300 per sq.ft (2024)
• Gowtham Golden Avenue: Rs 300 per sq.ft (2024)
• Gnanambal Nagar: Rs 300 per sq.ft (2024)
• Hasiya Nagar: Rs 210 per sq.ft (2024)
• Gandhi Street: Rs 210 per sq.ft (2024)
• Ganapathy Nagar Part IV: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Gragapriya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gragapriya Nagar?

The Sub Registrar Office that covers Gragapriya Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Nemili. It is used as a basis for calculating the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gragapriya Nagar?

The current guideline value of Gragapriya Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and remained at Rs 300 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties in Gragapriya Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which Sub Registrar Office is responsible for Gragapriya Nagar?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, covers Gragapriya Nagar.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher of the two is used for determining the applicable duties.