Guideline Value for GNT Road (Ward-30)

GNT Road (Ward-30) guideline value

The current guideline value of GNT Road (Ward-30) is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of GNT Road (Ward-30) has changed

The guideline value for GNT Road (Ward-30) has undergone several revisions over the years. The earliest revision listed is from 2012, where the value was Rs 3,000 per sq.ft. This figure changed to Rs 2,680 per sq.ft in 2017, marking a decrease of 11%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for GNT Road (Ward-30) in the revisions for the years 2002, 2003, and 2007. 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 for these streets is Rs 1,600 per sq.ft, placing GNT Road (Ward-30) above this median with its current value of Rs 4,400 per sq.ft.

• GNT Road (Ward-20): Rs 4,400 per sq.ft (2024)
• G.N.T. Road (Nellore High Road): 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-30)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fees would be 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers GNT Road (Ward-30)?

The Sub Registrar Office that covers GNT Road (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark for calculating these fees, ensuring that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value is periodically revised, reflecting changes in the real estate landscape and ensuring that property transactions remain transparent and fair.

Frequently asked questions

What is the current guideline value of GNT Road (Ward-30)?

The current guideline value of GNT Road (Ward-30) 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 notable increases in 2023 and 2024.

What is the land classification for GNT Road (Ward-30)?

The land classification for GNT Road (Ward-30) is Commercial Special Type - I.

What is the stamp duty rate for property transactions in GNT Road (Ward-30)?

The stamp duty rate for property transactions in GNT Road (Ward-30) is 7% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.