Guideline Value for GNANGRISHWARANPETTAI

Gnangrishwaranpettai guideline value

The current guideline value of Gnangrishwaranpettai is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO and is classified as Residential Class I Type - I.

How the guideline value of Gnangrishwaranpettai has changed

The guideline value for Gnangrishwaranpettai has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 201 per sq.ft. The value then rose significantly to Rs 600 per sq.ft in both the 2023 and 2024 revisions, showing a total increase of 199% from 2017 to 2023, and no change from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 401 per sq.ft, placing Gnangrishwaranpettai's value above this median.

• Gnananbigai Pettai: Rs 501 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 Gnangrishwaranpettai

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gnangrishwaranpettai?

The Gnangrishwaranpettai street falls under 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 plays a crucial role in the registration process of property transactions in Karunguzhi. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the appropriate fees based on the established rates. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Gnangrishwaranpettai?

The current guideline value of Gnangrishwaranpettai is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, showing a total increase of 300% over the years.

What are the other streets in Karunguzhi and their guideline values?

Other streets in Karunguzhi include Gnananbigai Pettai at Rs 501 per sq.ft, and several streets at Rs 401 per sq.ft. The guideline values vary across these streets.

How is stamp duty calculated for properties in Gnangrishwaranpettai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft incurs a stamp duty of Rs 42,000.

Where can I find the Sub Registrar Office for Gnangrishwaranpettai?

The Sub Registrar Office covering Gnangrishwaranpettai is the Madurandakam SRO, located at No.53, Old Taluk Office Road, Maduranthakam-603306.