Guideline Value for GANKAIKARAIPURAM

Gankaikaraipuram guideline value

The current guideline value of Gankaikaraipuram is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is part of Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - III.

How the guideline value of Gankaikaraipuram has changed

The guideline value for Gankaikaraipuram has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 4,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no recorded figures for Gankaikaraipuram in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tnagar

The village of Tnagar has 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in Tnagar is Rs 11,000 per sq.ft, making Gankaikaraipuram's 2024 figure below that median.

• Giriappa Road: Rs 8,800 per sq.ft (2024)
• Girifith Road/Maharajapuram Santhanam Salai: Rs 9,900 per sq.ft (2024)
• Giri Road: Rs 17,600 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 4,400 per sq.ft (2024)
• G.N.Chetty Road(Part 1 Anna Fly Over To Dr. Nair Road): Rs 27,500 per sq.ft (2024)
• G.N.Chetty Road (Part II Dr. Nair Road Junction To Srinivasan Road): Rs 27,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gankaikaraipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gankaikaraipuram?

The Gankaikaraipuram area is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Tnagar. It serves as a benchmark for assessing the value of properties, ensuring that the registration reflects a fair value based on the current market conditions.

When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Gankaikaraipuram?

The current guideline value of Gankaikaraipuram is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 4,000 per sq.ft in 2012, dropping to Rs 2,680 per sq.ft in 2017, and then rising to Rs 4,000 per sq.ft in 2023 before reaching Rs 4,400 per sq.ft in 2024.

What is the land classification for Gankaikaraipuram?

Gankaikaraipuram is classified as Residential Class III Type - III.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Gankaikaraipuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.