Guideline Value for G.T.Krishnan Avenue Annexe

G.T.Krishnan Avenue Annexe guideline value

The current guideline value of G.T.Krishnan Avenue Annexe is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Periyapanancheri village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of G.T.Krishnan Avenue Annexe has changed

The guideline value for G.T.Krishnan Avenue Annexe has undergone several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The latest 2024 revision raised the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating a significant rise in the guideline value over that period.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing G.T.Krishnan Avenue Annexe above this median.

• Govinthammal Street: Rs 990 per sq.ft (2024)
• Govindaraj Street: Rs 990 per sq.ft (2024)
• Gopal Street: Rs 1,650 per sq.ft (2024)
• Golden Avenue: Rs 1,320 per sq.ft (2024)
• Indira Nagar (ward 2): Rs 990 per sq.ft (2024)
• Gandhi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in G.T.Krishnan Avenue Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers G.T.Krishnan Avenue Annexe?

The G.T.Krishnan Avenue Annexe falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periyapanancheri. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the sale price or the guideline value, whichever is higher, will determine the applicable duties. This ensures that all transactions are valued fairly according to the established guidelines.

Frequently asked questions

What is the current guideline value of G.T.Krishnan Avenue Annexe?

The current guideline value of G.T.Krishnan Avenue Annexe is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500 at 7%, and the registration fee is Rs 33,000 at 2%, totaling Rs 1,48,500.

Which Sub Registrar Office do I need to visit for transactions in G.T.Krishnan Avenue Annexe?

The Pammal Sub Registrar Office covers G.T.Krishnan Avenue Annexe, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the government receives appropriate revenue based on the value of the property being sold.