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 Ninna Karai village under the Chengleput Joint II SRO, and it falls under the Residential Class I Type - III land classification.

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

The guideline value for Gnanambigai Street has seen 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 2023, and most recently, it was revised to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, the guideline value from 2012 to 2024 has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which means Gnanambigai Street's 2024 figure is below this 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)
• Gangaiamman Koil Street (Ward -17): Rs 660 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 amounts to Rs 6,60,000. The stamp duty at 7% would be 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 important to note that the 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 on calculating fees.

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 Ninna Karai

The guideline value is a crucial factor during the registration of property transactions in Ninna Karai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It helps in assessing the fair value of the property and is used to calculate various fees associated with the transaction.

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 of Gnanambigai Street?

Gnanambigai Street is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the registration office for Gnanambigai Street?

The registration office for Gnanambigai Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty at 7% would amount to Rs 46,200.