Guideline Value for Gulmugar Street (Sri nagar Colony)

Gulmugar Street (Sri nagar Colony) guideline value

The current guideline value of Gulmugar Street (Sri nagar Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gulmugar Street (Sri nagar Colony) has changed

The guideline value for Gulmugar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase to Rs 2,700 per sq.ft, representing an 8% increase from the previous year.

It is important to note that there are no recorded figures for Gulmugar Street in the revisions from 2002, 2003, and 2007. Overall, the guideline value has increased by 8% from the 2012 revision to the current 2024 figure.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Gulmugar Street's 2024 figure above this median.

• Gopal Street: Rs 1,900 per sq.ft (2024)
• Indira Gandhi Nagar (Anna Street): Rs 1,500 per sq.ft (2024)
• Indira Gandhi Nagar (Bakkeri Street): Rs 1,500 per sq.ft (2024)
• Indira Gandhi Nagar (MGR Street): Rs 1,500 per sq.ft (2024)
• Golden Avenue: Rs 2,400 per sq.ft (2024)
• Gokul Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Gulmugar Street (Sri nagar Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gulmugar Street (Sri nagar Colony)?

The Sub Registrar Office that covers Gulmugar Street (Sri nagar Colony) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Gulmugar Street (Sri nagar Colony)?

The current guideline value of Gulmugar Street (Sri nagar Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% rise. The value also increased from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023.

What is the land classification for Gulmugar Street (Sri nagar Colony)?

The land classification for Gulmugar Street (Sri nagar Colony) is Residential Special Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000, resulting in a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Gulmugar Street (Sri nagar Colony)?

The Ambattur Sub Registrar Office is responsible for handling registrations for Gulmugar Street (Sri nagar Colony), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.