Guideline Value for G K NAGAR

G K Nagar guideline value

The current guideline value of G K Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 335 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of G K Nagar has changed

Since the 2002 revision, the register has no figures for G K Nagar for the years 2002, 2003, 2007, and 2012. In the 2017 revision, the guideline value was set at Rs 335 per sq.ft, which remained unchanged in the 2023 revision. The most recent 2024 revision also maintains the guideline value at Rs 335 per sq.ft, indicating no percentage change across these revisions.

Overall, from 2017 to 2024, the guideline value has seen no change, with a consistent value of Rs 335 per sq.ft across all revisions since 2017. The changes from 2023 to 2024 also reflect a stable rate with a 0% increase.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. G K Nagar's 2024 figure is below this median, indicating a relatively lower guideline value compared to other streets in the area.

• Grace Nagar: Rs 400 per sq.ft (2024)
• Grace Nagar Extn: Rs 500 per sq.ft (2024)
• Gandhi Nagar Extension-II: Rs 500 per sq.ft (2024)
• Gandhi Nagar Extension-I: Rs 500 per sq.ft (2024)
• Gandhi Nagar: Rs 500 per sq.ft (2024)
• Ganapathi Syndicate: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in G K Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 335 per sq.ft, the total guideline value amounts to Rs 3,35,000. The stamp duty at 7% would be Rs 23,450, and the registration fee at 2% would be Rs 6,700, bringing the total cost for these fees to Rs 30,150. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G K Nagar?

The Sub Registrar Office covering G K Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Orathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of G K Nagar?

The current guideline value of G K Nagar is Rs 335 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained consistent at Rs 335 per sq.ft since the 2017 revision, with no changes recorded in the subsequent revisions of 2023 and 2024.

What is the land classification for G K Nagar?

The land classification for G K Nagar is Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in G K Nagar?

For a property valued at Rs 3,35,000, the stamp duty would be Rs 23,450, and the registration fee would be Rs 6,700, totaling Rs 30,150 for these fees.

Which Sub Registrar Office covers G K Nagar?

The Gooduvancheri Sub Registrar Office covers G K Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.