Guideline Value for Old G.S.T.Road 3

Old G.S.T.Road 3 guideline value

The current guideline value of Old G.S.T.Road 3 is Rs 3,025 per sq.ft, effective from 1 July 2024. This property is located in Chengalpattu Town village, under the Chengleput Joint I SRO, classified as Residential Special Type - V.

How the guideline value of Old G.S.T.Road 3 has changed

The guideline value for Old G.S.T.Road 3 has seen several revisions over the years. In the 2007 revision, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,750 per sq.ft in 2012. However, this figure dropped by 33% to Rs 1,842 per sq.ft in the 2017 revision. The 2023 revision saw a substantial increase to Rs 2,750 per sq.ft, followed by a further increase of 10% to the current value of Rs 3,025 per sq.ft in 2024.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 572%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO carrying a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 3,025 per sq.ft, which is equal to the current value of Old G.S.T.Road 3.

• Old G.S.T.Road 2: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 1: Rs 3,025 per sq.ft (2024)
• Ottapalayam (a) Sasthiri Nagar: Rs 1,650 per sq.ft (2024)
• Ottapalayam Santhu: Rs 1,650 per sq.ft (2024)
• Periyamaniyakara Street: Rs 4,125 per sq.ft (2024)
• Municipal Colony: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Old G.S.T.Road 3

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 30,25,000. The stamp duty at 7% would be Rs 2,11,750, and the registration fee at 2% would be Rs 60,500, totaling Rs 2,72,250. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Old G.S.T.Road 3?

The Sub Registrar Office that covers Old G.S.T.Road 3 is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Chengalpattu Town. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the transaction value for taxation purposes. It is essential for property owners to be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Old G.S.T.Road 3?

The current guideline value of Old G.S.T.Road 3 is Rs 3,025 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 3,025 per sq.ft in 2024, marking an overall increase of 572% over the years.

What are the stamp duty and registration fees for Old G.S.T.Road 3?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,72,250.

Which office handles property registrations for Old G.S.T.Road 3?

The Chengleput Joint I Sub Registrar Office handles property registrations for Old G.S.T.Road 3, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the median guideline value in Chengalpattu Town?

The median guideline value in Chengalpattu Town is Rs 3,025 per sq.ft, which is the same as the current value for Old G.S.T.Road 3.