Guideline Value for vasantha Bazaar or Raliway station ward No 10 Door No 1-67B

vasantha Bazaar or Raliway station ward No 10 Door No 1-67B guideline value

The current guideline value for vasantha Bazaar or Raliway station ward No 10 Door No 1-67B is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Old Gummidipoondi village and falls under the Gummidipoondi SRO. The land classification is Residential Class II Type - I.

How the guideline value of vasantha Bazaar or Raliway station ward No 10 Door No 1-67B has changed

The guideline value for this property has seen several revisions over the years. In 2002, the value was Rs 190 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, then to Rs 600 per sq.ft in 2012. However, it decreased to Rs 402 per sq.ft in 2017. The value then increased to Rs 600 per sq.ft in 2023, and finally, it reached Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 247%. The revisions for the years 2012 to 2017 showed a decrease of 33%, while the revision from 2017 to 2023 demonstrated a significant increase of 49%. There are no figures available for any other years for this street in the register.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the guideline value for this street.

• Valliammai Nagar Ward No.8 Door No.1-3 Door 1-26b: Rs 330 per sq.ft (2024)
• Vadugha Colony Ward No.5 Door No.1-8: Rs 220 per sq.ft (2024)
• Vettu Colony Ward No.4 Door No.1-69: Rs 660 per sq.ft (2024)
• Vettu Colony Ward No.5 Door No.70-88: Rs 660 per sq.ft (2024)
• Tirukulam Street Ward No.8 Door No.1-26b: Rs 330 per sq.ft (2024)
• Vivekananda 2nd Street Ward No.13 Door No.1-20: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in vasantha Bazaar or Raliway station ward No 10 Door No 1-67B

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for these fees would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers vasantha Bazaar or Raliway station ward No 10 Door No 1-67B?

The vasantha Bazaar or Raliway station ward No 10 Door No 1-67B falls under the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions within Old Gummidipoondi. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for vasantha Bazaar or Raliway station ward No 10 Door No 1-67B?

The current guideline value for vasantha Bazaar or Raliway station ward No 10 Door No 1-67B is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 190 per sq.ft in 2002 to Rs 660 per sq.ft in 2024. Notable changes include an increase of 10% from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the land classification for this property?

The land classification for vasantha Bazaar or Raliway station ward No 10 Door No 1-67B is Residential Class II Type - I.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value of Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.