Guideline Value for GNANASUNDRAM GARDEN

Gnanasundram Garden guideline value

The current guideline value of Gnanasundram Garden is Rs 2,800 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gnanasundram Garden has changed

The guideline value for Gnanasundram Garden has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing the 2024 guideline value of Gnanasundram Garden above this median.

• Gayathri Garden: Rs 1,700 per sq.ft (2024)
• Govindaraj Garden: Rs 1,100 per sq.ft (2024)
• Ganesh Ram Garden: Rs 1,100 per sq.ft (2024)
• Ganesan / Mohan Garden: Rs 1,700 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Gandhi Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanasundram Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total charges to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnanasundram Garden?

The Sub Registrar Office that covers Gnanasundram Garden is 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 information.

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

The guideline value is a critical factor when it comes to the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of these values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Gnanasundram Garden?

The current guideline value of Gnanasundram Garden is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What are the other guideline values in Chemmancheri?

In Chemmancheri, other streets have varying guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft as of 2024. The median value for the area is Rs 1,700 per sq.ft.

What is the stamp duty for property in Gnanasundram Garden?

The stamp duty for property in Gnanasundram Garden is calculated at 7% of the guideline value. For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000.

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. You can find more information online.