Guideline Value for GNANAGURU NAGAR

Gnanaguru Nagar guideline value

The current guideline value of Gnanaguru Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Kosappur village under the Thiruvottiyur SRO and is classified as Residential Special Type - II.

How the guideline value of Gnanaguru Nagar has changed

Over the years, the guideline value for Gnanaguru Nagar has seen significant changes. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2012, representing a 200% rise. However, from 2012 to 2017, the value decreased to Rs 201 per sq.ft, marking a decline of 33%. The value then surged to Rs 1,002 per sq.ft in the 2017 revision, which remained unchanged in the 2023 revision and continues to be the same in the 2024 revision.

From 2017 to 2023, the guideline value increased by 399%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 902%.

Guideline values in Kosappur

Kosappur village has 25 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,002 per sq.ft, which matches the guideline value of Gnanaguru Nagar.

• Jain Nagar: Rs 1,002 per sq.ft (2024)
• Dr.AMBETKAR NAGAR: Rs 1,000 per sq.ft (2024)
• Donbosco Nagar: Rs 1,002 per sq.ft (2024)
• Coramondal Green City: Rs 1,040 per sq.ft (2024)
• Krishna Nagar/ Ext: Rs 1,002 per sq.ft (2024)
• Madha Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanaguru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gnanaguru Nagar?

The Gnanaguru Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kosappur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring proper tax collection. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gnanaguru Nagar?

The current guideline value of Gnanaguru Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 100 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, marking an overall increase of 902%.

What is the classification of land in Gnanaguru Nagar?

Gnanaguru Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Gnanaguru Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 10,02,000 would incur a stamp duty of Rs 70,140 at 7%.