Guideline Value for NORTH GIRIAPPA ROAD

North Giriappa Road guideline value

The current guideline value of North Giriappa Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of North Giriappa Road has changed

The guideline value for North Giriappa Road has seen several revisions over the years. In 2002, the value was Rs 1,225 per sq.ft, which increased to Rs 1,360 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting a 47% increase. Following this, the value surged to Rs 8,000 per sq.ft in 2012, showing a substantial growth of 300%. However, there was a decline to Rs 5,360 per sq.ft in 2017, which represented a decrease of 33%. The value then increased to Rs 8,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of North Giriappa Road is below this median.

• North Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• North Boag Road(2nd Cross Street, 2nd Lane): Rs 11,000 per sq.ft (2024)
• North Boag Road: Rs 11,000 per sq.ft (2024)
• New Postal Colony Street: Rs 8,800 per sq.ft (2024)
• New Giri Road: Rs 8,800 per sq.ft (2024)
• New Giri Ist Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in North Giriappa Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making a total of Rs 7,92,000. 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 information.

Which Sub Registrar Office covers North Giriappa Road?

The Sub Registrar Office that covers North Giriappa Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is an important factor when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value for property transactions and is used to calculate the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the value of the property as per the government’s assessment.

Frequently asked questions

What is the current guideline value of North Giriappa Road?

The current guideline value of North Giriappa Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,225 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 618% over this period.

What is the classification of land on North Giriappa Road?

North Giriappa Road is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where is the Sub Registrar Office located for North Giriappa Road?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.