Guideline Value for G.K.C.NAGAR

G.K.C.Nagar guideline value

The current guideline value of G.K.C.Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

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

The guideline value for G.K.C.Nagar has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 335 per sq.ft. This was followed by a significant increase to Rs 500 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has set the value at Rs 550 per sq.ft, which is a 10% increase from 2023.

Overall, from the 2017 revision to the current 2024 figure, the guideline value has increased by 64%. It is important to note that there are no recorded figures for G.K.C.Nagar in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of G.K.C.Nagar.

• Ganesh Nagar: Rs 550 per sq.ft (2024)
• Gandhi Road (Ward 6): Rs 1,320 per sq.ft (2024)
• Gururagavendhira Nagar: Rs 550 per sq.ft (2024)
• Guru Street: Rs 1,320 per sq.ft (2024)
• Harilakshmi Nagar: Rs 550 per sq.ft (2024)
• Harini Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.C.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.K.C.Nagar?

The Sub Registrar Office that covers G.K.C.Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Minjur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties agree on a fair price and provides a basis for calculating the necessary fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of G.K.C.Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification of G.K.C.Nagar?

G.K.C.Nagar is classified as Residential Class II Type - I under the Ponneri SRO.

Where can I find the Sub Registrar Office for G.K.C.Nagar?

The Sub Registrar Office for G.K.C.Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in G.K.C.Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the stamp duty would be Rs 38,500.