Guideline Value for G.S.naidu Nagar

G.S.naidu Nagar guideline value

The current guideline value of G.S.naidu Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village, under the Ambattur SRO, classified as Residential Class IV Type - I.

How the guideline value of G.S.naidu Nagar has changed

Over the years, the guideline value for G.S.naidu Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023 and further rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. The overall change from 2012 to 2024 is an increase of 8%.

From 2017 to 2023, the guideline value increased significantly by 49%. The changes between the revisions indicate a fluctuation in property values, with the 2012 to 2017 period experiencing a decrease of 33%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for G.S.naidu Nagar is below this median.

• Grist Nagar: Rs 1,900 per sq.ft (2024)
• Greas Nagar: Rs 1,900 per sq.ft (2024)
• Golden Nagar: Rs 2,201 per sq.ft (2024)
• Indira Nagar: Rs 2,201 per sq.ft (2024)
• Indira Nagar extention: Rs 2,201 per sq.ft (2024)
• Indira Nagar Extention 1st Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in G.S.naidu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers G.S.naidu Nagar?

The Sub Registrar Office that covers G.S.naidu Nagar 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 Puthagaram

The guideline value is a critical factor in property transactions in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, which are essential for the registration process. It is crucial for both parties in a transaction to understand how these values affect the overall cost and legal obligations involved in property dealings.

Frequently asked questions

What is the current guideline value for G.S.naidu Nagar?

The current guideline value for G.S.naidu Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024.

What is the land classification for G.S.naidu Nagar?

G.S.naidu Nagar is classified as Residential Class IV Type - I.

Where is the Ambattur Sub Registrar Office located?

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

How is stamp duty calculated for properties in G.S.naidu Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.