Guideline Value for GNANAMBAL COLONY

Gnanambal Colony guideline value

The current guideline value of Gnanambal Colony is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-A village, under the Avadi SRO, and is classified as Residential Class I Type - II.

How the guideline value of Gnanambal Colony has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 770 per sq.ft, which represents a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft. The median guideline value for the area is Rs 750 per sq.ft, placing Gnanambal Colony's 2024 figure above this median.

• Gnanappan Nagar & Streets: Rs 750 per sq.ft (2024)
• Gk Garden: Rs 1,060 per sq.ft (2024)
• Gengureddy Sanjeevi Street: Rs 840 per sq.ft (2024)
• GENGUREDDY KUPPAM to PALAVEDU ROAD: Rs 840 per sq.ft (2024)
• Gengureddy Kuppam Rose Nagar: Rs 990 per sq.ft (2024)
• Gengureddy Kuppam Nethaji Street: Rs 840 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanambal Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gnanambal Colony?

The Sub Registrar Office that covers Gnanambal Colony is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value is an essential factor in property transactions within Thiruninravur-A, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees applicable during the transaction.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's value in the market.

Frequently asked questions

What is the current guideline value of Gnanambal Colony?

The current guideline value of Gnanambal Colony is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification of Gnanambal Colony?

Gnanambal Colony is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Avadi Sub Registrar Office?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for property in Gnanambal Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at the current guideline value, the total fees can be computed using the rates provided in the guideline value register.