Guideline Value for G.K.Nagar Ist Street

G.K.Nagar Ist Street guideline value

The current guideline value of G.K.Nagar Ist Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class I Type - II.

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

Over the years, the guideline value for G.K.Nagar Ist Street has seen significant changes. The 2017 revision recorded a value of Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in 2023, marking a 49% rise. The most recent 2024 revision has set the value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for G.K.Nagar Ist Street for the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for G.K.Nagar Ist Street is below this median.

• G.K.Nagar 3rd Street: Rs 1,870 per sq.ft (2024)
• G.K.Nagar IVth Street: Rs 1,870 per sq.ft (2024)
• G.K.Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• Gopal Chetty Street: Rs 1,760 per sq.ft (2024)
• GowriAvenue: Rs 1,760 per sq.ft (2024)
• Gowri Avenue IIIrd Cross Street: Rs 1,760 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Together, the total cost for these fees would be Rs 1,68,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers G.K.Nagar Ist Street?

The G.K.Nagar Ist Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Anakaputhur. It is used as a benchmark for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value to ensure they are compliant with local regulations.

When buying or selling property, the guideline value helps determine the official value of the property, which is essential for legal documentation and taxation purposes. It is advisable to check the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of G.K.Nagar Ist Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in G.K.Nagar Ist Street?

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for G.K.Nagar Ist Street?

The Pammal Sub Registrar Office handles registrations for G.K.Nagar Ist Street. The office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for G.K.Nagar Ist Street?

G.K.Nagar Ist Street is classified as Residential Class I Type - II, which indicates its intended use for residential purposes.