Guideline Value for GKM NAGAR

Gkm Nagar guideline value

The current guideline value of Gkm Nagar, located in Nerkundram village, under the Salavakkam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Gkm Nagar has changed

The guideline value for Gkm Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 75 per sq.ft, which increased to Rs 50 per sq.ft in the 2017 revision. Following this, the 2023 revision maintained the value at Rs 100 per sq.ft, which remains unchanged in the 2024 revision.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 100%, bringing the value back to Rs 100 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Nerkundram

In Nerkundram, there are three streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. Gkm Nagar's current guideline value of Rs 100 per sq.ft is equal to the median value of Rs 100 per sq.ft for the area.

• Sri Linga Eswar Nagar: Rs 100 per sq.ft (2024)
• Golden Aura: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Gkm Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which totals Rs 7,000, and the registration fee is charged at 2%, totaling Rs 2,000. Together, the total cost for stamp duty and registration fee would be Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gkm Nagar?

The Salavakkam Sub Registrar Office covers Gkm Nagar. The office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected based on the established rates.

Frequently asked questions

What is the current guideline value of Gkm Nagar?

The current guideline value of Gkm Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, which remains the same in 2024.

What are the stamp duty and registration fees for property in Gkm Nagar?

For a property valued at Rs 1,00,000, the stamp duty is Rs 7,000 and the registration fee is Rs 2,000, totaling Rs 9,000.

Which office registers properties in Gkm Nagar?

The Salavakkam Sub Registrar Office is responsible for registering properties in Gkm Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What is the land classification of Gkm Nagar?

Gkm Nagar falls under the Residential Class I Type - I land classification.