Guideline Value for G.P. Samy Nagar Layout

G.P. Samy Nagar Layout guideline value

The current guideline value of G.P. Samy Nagar Layout is Rs 3,300 per sq.ft, effective from 1 July 2024. This layout is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this area is Mixed Type - II.

How the guideline value of G.P. Samy Nagar Layout has changed

The guideline value for G.P. Samy Nagar Layout has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. The 2023 revision then increased the value to Rs 3,000 per sq.ft, followed by a further increase of 10% to the current value of Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as of the 2024 revision. The median value for these streets is Rs 2,750 per sq.ft, placing G.P. Samy Nagar Layout's 2024 value above this median.

• Govindaswamy Nagar: Rs 1,960 per sq.ft (2024)
• Gopal Nagar 1 To 5 Streets: Rs 1,980 per sq.ft (2024)
• Gopal Nagar: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Hasthinapuram Salai: Rs 1,960 per sq.ft (2024)
• Hasthinapuram Salai 1 To 10 Streets: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in G.P. Samy Nagar Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G.P. Samy Nagar Layout?

The G.P. Samy Nagar Layout is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nanmangalam

The guideline value plays a crucial role in the property registration process in Nanmangalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is assessed to establish the minimum value for registration purposes. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the transaction reflects the property's value accurately.

Frequently asked questions

What is the current guideline value of G.P. Samy Nagar Layout?

The current guideline value of G.P. Samy Nagar Layout is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the other streets in Nanmangalam?

Other streets in Nanmangalam include Govindaswamy Nagar, Gopal Nagar 1 To 5 Streets, Gopal Nagar, Gayathri Nagar, and Hasthinapuram Salai, with values ranging from Rs 1,960 to Rs 2,750 per sq.ft in 2024.

What is the stamp duty rate for properties in G.P. Samy Nagar Layout?

The stamp duty rate for properties in G.P. Samy Nagar Layout is 7% of the guideline value or the sale price, whichever is higher. This is applicable during the registration process.

Where can I find the Sub Registrar Office for G.P. Samy Nagar Layout?

The Sub Registrar Office for G.P. Samy Nagar Layout is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.