Guideline Value for G.N.G.Cross 1st Street

G.N.G.Cross 1st Street guideline value

The current guideline value of G.N.G.Cross 1st Street is Rs 4,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Mixed Type - I land.

How the guideline value of G.N.G.Cross 1st Street has changed

Over the years, the guideline value for G.N.G.Cross 1st Street has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 4,200 per sq.ft. This was followed by a decrease to Rs 2,814 per sq.ft in 2017. The 2023 revision marked an increase to Rs 4,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,600 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value is Rs 3,600 per sq.ft, placing G.N.G.Cross 1st Street's 2024 figure above this median.

• G.N.G. Colony: Rs 4,600 per sq.ft (2024)
• G.N.G.Cross 2nd Street: Rs 4,600 per sq.ft (2024)
• G.N.G.Cross 3rd Street: Rs 4,600 per sq.ft (2024)
• G.N.G Street: Rs 4,600 per sq.ft (2024)
• Gopolsamy Nagar: Rs 3,600 per sq.ft (2024)
• Govindharaj Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in G.N.G.Cross 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value would be Rs 46,00,000. The stamp duty at 7% would amount to Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, bringing the total to Rs 4,14,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.N.G.Cross 1st Street?

The Sub Registrar Office that covers G.N.G.Cross 1st Street 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 Ambattur

The guideline value plays a crucial role during the registration process when buying or selling property in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of G.N.G.Cross 1st Street?

The current guideline value of G.N.G.Cross 1st Street is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,200 per sq.ft in 2012 to Rs 2,814 per sq.ft in 2017, then back to Rs 4,200 per sq.ft in 2023, and finally to Rs 4,600 per sq.ft in 2024.

What are the other streets with the same guideline value in Ambattur?

Other streets in Ambattur with the same guideline value of Rs 4,600 per sq.ft include G.N.G. Colony, G.N.G.Cross 2nd Street, G.N.G.Cross 3rd Street, and G.N.G Street.

What is the registration fee for property in G.N.G.Cross 1st Street?

The registration fee for property in G.N.G.Cross 1st Street is 2% of the guideline value. For example, for a property valued at Rs 46,00,000, the registration fee would be Rs 92,000.

Where is the Sub Registrar Office for G.N.G.Cross 1st Street located?

The Sub Registrar Office for G.N.G.Cross 1st Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.