Guideline Value for GNT Road (Ward-20)

GNT Road (Ward-20) guideline value

The current guideline value of GNT Road (Ward-20) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Commercial Special Type - I.

How the guideline value of GNT Road (Ward-20) has changed

The guideline value for GNT Road (Ward-20) has undergone several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 3,000 per sq.ft. This figure changed to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 11%. However, the value saw a significant increase to Rs 4,000 per sq.ft in 2023, marking a rise of 49%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, and GNT Road (Ward-20) is above this median with its current rate.

• G.N.T. Road (Nellore High Road): Rs 4,400 per sq.ft (2024)
• GNT Road (Ward-30): Rs 4,400 per sq.ft (2024)
• Gokulam Avenue: Rs 1,300 per sq.ft (2024)
• Gokulam Avenue, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Gemini Vasan St (Ward-14): Rs 1,300 per sq.ft (2024)
• Gemini Ss Vasan Street (Ward-10): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in GNT Road (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers GNT Road (Ward-20)?

The Sub Registrar Office that covers GNT Road (Ward-20) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that are applicable during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during registration.

When a property is registered, the guideline value is considered to ascertain the amount of stamp duty payable. The higher of the guideline value and the sale price is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in the official registers.

Frequently asked questions

What is the current guideline value of GNT Road (Ward-20)?

The current guideline value of GNT Road (Ward-20) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, with significant increases in 2023 and 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for GNT Road (Ward-20)?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is responsible for GNT Road (Ward-20).

What is the land classification for GNT Road (Ward-20)?

GNT Road (Ward-20) is classified as Commercial Special Type - I.