Guideline Value for GNANMMAL NAGAR

Gnanmmal Nagar guideline value

The current guideline value of Gnanmmal Nagar is Rs 700 per sq.ft. This area is located in Ponmar village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Gnanmmal Nagar has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft, marking a drop of 33%. However, in the 2023 revision, the guideline value increased to Rs 700 per sq.ft, resulting in a significant increase of 49% from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained the same at Rs 700 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values provided for other streets in Ponmar under the Gooduvancheri SRO. Gnanmmal Nagar is the only street referenced in this context.

Stamp duty and registration fee for property in Gnanmmal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gnanmmal Nagar?

The Gnanmmal Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find more details about your specific location, you can find your SRO.

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

The guideline value is a critical factor when registering property in Gnanmmal Nagar. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value will be used to calculate the necessary fees unless the sale price is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gnanmmal Nagar?

The current guideline value of Gnanmmal Nagar is Rs 700 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

From 2012 to 2017, the guideline value decreased from Rs 700 per sq.ft to Rs 469 per sq.ft. It then increased back to Rs 700 per sq.ft in the 2023 revision.

What is the land classification for Gnanmmal Nagar?

Gnanmmal Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 63,000.