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 Sattamangalam 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 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 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision has further increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for Gnanambigai Street in the 2002, 2003, and 2007 revisions.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Gnanambigai Street's current guideline value 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 660 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 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, bringing the total fees to Rs 59,400. Duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

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 Sattamangalam

The guideline value plays a crucial role in the registration process of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the overall cost involved in property transactions. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Gnanambigai Street (Ward -17)?

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 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.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Gnanambigai Street?

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