Guideline Value for GNANANBIGAI PETTAI

Gnananbigai Pettai guideline value

The current guideline value of Gnananbigai Pettai is Rs 501 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO and is classified as Commercial Class I Type - II.

How the guideline value of Gnananbigai Pettai has changed

Over the years, the guideline value of Gnananbigai Pettai has seen several revisions. The earliest recorded value is from 2007, when it was Rs 200 per sq.ft. This figure increased to Rs 500 per sq.ft in 2012, then dropped to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023, and finally to Rs 501 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the guideline value has increased by 151%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The change from 2007 to 2012 was a substantial increase of 150%, and the value remained stable from 2023 to 2024 with no change.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft, with a median value of Rs 401 per sq.ft. The guideline value of Gnananbigai Pettai is above this median.

• Gnangrishwaranpettai: Rs 600 per sq.ft (2024)
• Hills Colony: Rs 401 per sq.ft (2024)
• Eri Colony: Rs 401 per sq.ft (2024)
• East Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 401 per sq.ft (2024)
• Brammanar Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Gnananbigai Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 501 per sq.ft, the total guideline value would be Rs 5,01,000. The stamp duty at 7% would amount to Rs 35,070, and the registration fee at 2% would be Rs 10,020, resulting in a total of Rs 45,090. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnananbigai Pettai?

The Sub Registrar Office that covers Gnananbigai Pettai is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for buying or selling property in Karunguzhi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the values are consistent with government regulations.

When a property is sold, the guideline value will be used to determine the applicable taxes, which are charged based on the higher of the guideline value or the sale price. This ensures that the registration reflects the fair value of the property as per the government standards.

Frequently asked questions

What is the current guideline value of Gnananbigai Pettai?

The current guideline value of Gnananbigai Pettai is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 501 per sq.ft in 2024, with significant increases and decreases in various years.

What is the land classification of Gnananbigai Pettai?

Gnananbigai Pettai is classified as Commercial Class I Type - II.

Where can I find the registration office for Gnananbigai Pettai?

The registration office for Gnananbigai Pettai is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Gnananbigai Pettai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 5,01,000, the stamp duty would be Rs 35,070 at 7%.