Guideline Value for G.V.N. NAGAR

G.V.N. Nagar guideline value

The current guideline value of G.V.N. Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of G.V.N. Nagar has changed

The guideline value for G.V.N. Nagar has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 700 per sq.ft in the 2024 revision, marking a significant change of +133%.

Prior to the 2023 revision, there were no recorded figures for G.V.N. Nagar in the earlier years mentioned. Therefore, the most recent change reflects a substantial increase from the previous year's value.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 201 to Rs 1,200 per sq.ft. The median value among these streets is Rs 700 per sq.ft, which is the same as the current guideline value for G.V.N. Nagar. Below are some other streets in Ponneri with their respective guideline values:

• Hariharan Bazar Street: Rs 1,200 per sq.ft (2024)
• Gtm Garden: Rs 900 per sq.ft (2024)
• Golden Avenue: Rs 700 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)
• Jayam Nagar: Rs 700 per sq.ft (2024)
• Jayam Vip City Phase II: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in G.V.N. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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.V.N. Nagar?

The G.V.N. Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value, and it helps in establishing a standard for property transactions within the region.

Frequently asked questions

What is the current guideline value of G.V.N. Nagar?

The current guideline value of G.V.N. Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting a change of +133%.

Which Sub Registrar Office covers G.V.N. Nagar?

The Ponneri Sub Registrar Office covers G.V.N. Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in G.V.N. Nagar?

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 Rs 700 per sq.ft would incur a stamp duty of Rs 49,000.

What other streets in Ponneri have guideline values?

Other streets in Ponneri include Hariharan Bazar Street at Rs 1,200 per sq.ft, Gtm Garden at Rs 900 per sq.ft, and several others with varying rates. The median guideline value in Ponneri is Rs 700 per sq.ft.