Guideline Value for GNT ROAD

Gnt Road guideline value

The current guideline value of Gnt Road in Karanodai village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Gnt Road has changed

The guideline value for Gnt Road has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2007, marking a 250% increase. In 2012, the value rose to Rs 1,500 per sq.ft, reflecting a 114% increase from the previous revision. However, in 2017, it decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 725%. It is important to note that the register has no figure for Gnt Road for the year 2002.

Guideline values in Karanodai

In Karanodai, there are 38 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, placing Gnt Road's 2024 figure above this median.

• Ganga Nagar: Rs 550 per sq.ft (2024)
• Ganesh Nagar: Rs 1,650 per sq.ft (2024)
• Ganapathy Nagar: Rs 440 per sq.ft (2024)
• Eswaran Nagar: Rs 1,650 per sq.ft (2024)
• Jai Nagar: Rs 440 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Gnt Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Gnt Road?

The Sub Registrar Office covering Gnt Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karanodai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for completing the sale. It ensures that the transaction is recorded accurately in the government records.

Frequently asked questions

What is the current guideline value of Gnt Road?

The current guideline value of Gnt Road is Rs 1,650 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 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 725% over this period.

What is the land classification for Gnt Road?

The land classification for Gnt Road is Residential Special Type - I.

Where is the Sub Registrar Office for Gnt Road located?

The Sub Registrar Office for Gnt Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties on Gnt Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.