Guideline Value for G.K. Nagar

G.K. Nagar guideline value

The current guideline value of G.K. Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of G.K. Nagar has changed

The guideline value of G.K. Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 2,900 per sq.ft in 2012, marking a rise of 263%. However, it then decreased to Rs 1,943 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase again, reaching Rs 2,900 per sq.ft in 2023, which was a 49% rise from the previous figure. The latest revision in 2024 has set the guideline value at Rs 3,190 per sq.ft, which is a 10% increase from 2023.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 299%.

Guideline values in Madanandapuram

Madanandapuram village has 94 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft as of 2024. The median value for these streets is Rs 3,520 per sq.ft, placing G.K. Nagar's 2024 figure below this median.

• Gurusamy Nagar: Rs 3,960 per sq.ft (2024)
• Himachal Nagar: Rs 3,190 per sq.ft (2024)
• Himachal Nagar Annex: Rs 3,190 per sq.ft (2024)
• Himatchal Nagar Phase II: Rs 3,190 per sq.ft (2024)
• E,.V.P. Santhosh Nagar Extension II: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Nagar Extension: Rs 3,960 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 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers G.K. Nagar?

The G.K. Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Madanandapuram. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating various fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of G.K. Nagar?

The current guideline value of G.K. Nagar is Rs 3,190 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 800 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, reflecting an overall increase of 299%.

What is the median guideline value in Madanandapuram?

The median guideline value in Madanandapuram is Rs 3,520 per sq.ft, with G.K. Nagar's current value being below this median.

What are the stamp duty rates applicable in G.K. Nagar?

The stamp duty rate applicable in G.K. Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.