Guideline Value for GNANASEKARAN THOTTAM

Gnanasekaran Thottam guideline value

The current guideline value of Gnanasekaran Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Gnanasekaran Thottam has changed

The guideline value for Gnanasekaran Thottam has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then dropped to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The shift from 2023 to 2024 reflects a 13% increase. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is equal to the current value of Gnanasekaran Thottam.

• Gayathri Garden: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil Street (Colony): Rs 2,800 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 2,800 per sq.ft (2024)
• Govind Ram Garden: Rs 1,100 per sq.ft (2024)
• Gowri Chandran Garden: Rs 1,100 per sq.ft (2024)
• Grp Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanasekaran Thottam

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnanasekaran Thottam?

The Gnanasekaran Thottam falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration of property transactions in Uthandi. It helps determine the stamp duty and registration fees that need to be paid based on the property's value.

When buying or selling property, the guideline value serves as a benchmark to ensure that all transactions are conducted fairly and transparently. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gnanasekaran Thottam?

The current guideline value of Gnanasekaran Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Gnanasekaran Thottam?

Gnanasekaran Thottam is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Gnanasekaran Thottam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.