Guideline Value for G.K.N.Garden

G.K.N.Garden guideline value

The current guideline value of G.K.N.Garden is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of G.K.N.Garden has changed

Over the years, the guideline value of G.K.N.Garden has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 536 per sq.ft. In 2023, the value increased to Rs 800 per sq.ft, and the latest revision in 2024 raised it to Rs 880 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this area is Rs 870 per sq.ft, placing G.K.N.Garden's 2024 figure above that median.

• Golden star Nagar: Rs 805 per sq.ft (2024)
• Gopal Street: Rs 806 per sq.ft (2024)
• Govinda Swami Street: Rs 806 per sq.ft (2024)
• Grace Avenue: Rs 1,200 per sq.ft (2024)
• Hari Krishna Nagar: Rs 806 per sq.ft (2024)
• Hari Krishna Nagar Balaji Avenue: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in G.K.N.Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for these fees Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers G.K.N.Garden?

The Sub Registrar Office that covers G.K.N.Garden is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kovilpathagai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of G.K.N.Garden?

The current guideline value of G.K.N.Garden is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 880 per sq.ft in 2024, with various revisions in between, including a significant increase of 49% from 2017 to 2023.

What is the land classification for G.K.N.Garden?

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

Where is the Sub Registrar Office for G.K.N.Garden located?

The Sub Registrar Office for G.K.N.Garden is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in G.K.N.Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 61,600.