Guideline Value for GNANAMBIGAI STREET (WARD -17)

Gnanambigai Street (Ward -17) guideline value

The current guideline value of Gnanambigai Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Gnanambigai Street (Ward -17) has changed

The guideline value for Gnanambigai Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and currently stands at Rs 660 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The changes between specific revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. It is important to note that there are no figures available for Gnanambigai Street in the revisions from 2002, 2003, and 2007.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Gnanambigai Street's 2024 figure below that median.

• Gokul Nagar (Kr): Rs 1,100 per sq.ft (2024)
• Ganthi Nagar (Pa): Rs 440 per sq.ft (2024)
• Gopola Krishnan Nagar (Kr): Rs 660 per sq.ft (2024)
• Gopolapuram (Sa): Rs 440 per sq.ft (2024)
• Ganpathypuram (Sa): Rs 990 per sq.ft (2024)
• Gowsalya Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanambigai Street (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total cost of Rs 59,400. It is essential to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gnanambigai Street (Ward -17)?

The Sub Registrar Office that covers Gnanambigai Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the applicable taxes, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives due revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Gnanambigai Street?

The current guideline value of Gnanambigai Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Gnanambigai Street?

The land classification for Gnanambigai Street (Ward -17) is Residential Class I Type - III, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 6,60,000 would incur a stamp duty of Rs 46,200 at a rate of 7%.