Guideline Value for G.N.P.COMPANY

G.N.P.Company guideline value

The current guideline value for G.N.P.Company in Palavakkam village is Rs 6,100 per sq.ft, effective from 1 July 2024. This property falls under the Neelankarai SRO and is classified as Residential Special Type - II.

How the guideline value of G.N.P.Company has changed

The guideline value for G.N.P.Company has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was a decrease of 33% from Rs 3,685 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 5,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 6,100 per sq.ft, marking an increase of 11% from the previous year.

From the 2012 revision to the 2024 revision, the overall change is an increase of 11%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing G.N.P.Company's guideline value above this median.

• G.M.R.It. Company: Rs 6,100 per sq.ft (2024)
• Govindan Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in G.N.P.Company

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, totaling Rs 5,49,000. 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 more details.

Which Sub Registrar Office covers G.N.P.Company?

The G.N.P.Company falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is assessed fairly for taxation purposes, thereby facilitating a transparent process in property dealings.

Frequently asked questions

What is the current guideline value of G.N.P.Company?

The current guideline value of G.N.P.Company is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2023 to Rs 6,100 per sq.ft in 2024, showing an increase of 11%. It was Rs 3,685 per sq.ft in 2017 and Rs 5,500 per sq.ft in 2012.

What is the land classification for G.N.P.Company?

The land classification for G.N.P.Company is Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in G.N.P.Company?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 6,100 per sq.ft would incur a total guideline value of Rs 61,00,000.