Guideline Value for Gramani Street

Gramani Street guideline value

The current guideline value of Gramani Street in Sundaracholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of Gramani Street has changed

The guideline value for Gramani Street has undergone several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it saw a decrease to Rs 335 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 500 per sq.ft, and the latest revision in 2024 set it at Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has risen by 214%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 4,600 per sq.ft. The median guideline value in this village is Rs 660 per sq.ft, placing Gramani Street's 2024 value below this median.

• Gold Mine By Urban Tree Phase-II: Rs 4,070 per sq.ft (2024)
• Gold Mine By Urban Tree: Rs 3,610 per sq.ft (2024)
• Jagathambal Avenue: Rs 880 per sq.ft (2024)
• Divya Nagar: Rs 880 per sq.ft (2024)
• Devi Karumariyamman Nagar: Rs 550 per sq.ft (2024)
• Kasthuri Bai Nagar, Avenue & Extension: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gramani Street?

The Sub Registrar Office covering Gramani Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sundaracholavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gramani Street?

The current guideline value of Gramani Street 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 175 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the land classification for Gramani Street?

Gramani Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Gramani Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would be Rs 49,500, based on the guideline value of Rs 5,50,000.

Which office handles property registrations for Gramani Street?

The Kunrathur Sub Registrar Office is responsible for property registrations in Gramani Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.