Guideline Value for Grish Blue Diamond

Grish Blue Diamond guideline value

The current guideline value of Grish Blue Diamond is Rs 825 per sq.ft, effective from 1 July 2024. This property is located in Siruniyam village, under the Redhills SRO, and is classified as Mixed Type - I land.

How the guideline value of Grish Blue Diamond has changed

The guideline value for Grish Blue Diamond has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 502 per sq.ft. This figure increased significantly to Rs 750 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 440 per sq.ft, positioning Grish Blue Diamond above this median value.

• Gangaiamman Koil Street: Rs 440 per sq.ft (2024)
• Elshdoy Avenue: Rs 440 per sq.ft (2024)
• Bajanai Koil Street: Rs 440 per sq.ft (2024)
• Madha Koil Street: Rs 330 per sq.ft (2024)
• Azhagathamman Nagar 2nd Street: Rs 440 per sq.ft (2024)
• Azhagathamman Nagar 1st Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Grish Blue Diamond

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total fees together Rs 74,250. 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 details.

Which Sub Registrar Office covers Grish Blue Diamond?

Grish Blue Diamond falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, 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 Siruniyam

The guideline value plays a crucial role during the registration process of property transactions in Siruniyam. It is used to determine the stamp duty and registration fees payable, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

When buying or selling property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the market and land classification.

Frequently asked questions

What is the current guideline value of Grish Blue Diamond?

The current guideline value of Grish Blue Diamond is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What are the other streets in Siruniyam and their guideline values?

Other streets in Siruniyam include Gangaiamman Koil Street, Elshdoy Avenue, Bajanai Koil Street, Madha Koil Street, Azhagathamman Nagar 2nd Street, and Azhagathamman Nagar 1st Street, with values ranging from Rs 330 to Rs 440 per sq.ft in 2024.

What is the registration fee for property in Grish Blue Diamond?

The registration fee for property in Grish Blue Diamond is calculated based on the guideline value. For example, for a property valued at Rs 8,25,000, the registration fee would be Rs 16,500 at 2%.

Which office handles the registration for Grish Blue Diamond?

The Redhills Sub Registrar Office handles the registration for Grish Blue Diamond. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.