Guideline Value for GSN Nagar

GSN Nagar guideline value

The current guideline value of GSN Nagar, located in Karasangal village, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of GSN Nagar has changed

Over the years, the guideline value of GSN Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2023 revision. However, from the 2017 revision, where the value was Rs 402 per sq.ft, there was a significant increase of 49% to reach the 2023 figure of Rs 600 per sq.ft. Notably, the 2002, 2003, and 2007 revisions do not have any figures recorded for this street.

As of the 2024 revision, the guideline value remains at Rs 600 per sq.ft, indicating no change from the previous year. Overall, when comparing the 2012 revision to the 2024 figure, there is a 0% change, highlighting stability in the guideline value over this period.

Guideline values in Karasangal

In Karasangal village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 402 per sq.ft, making GSN Nagar's current value of Rs 600 per sq.ft above this median.

• Indira Gandhi Street: Rs 250 per sq.ft (2024)
• Jjs Shrivari Nilayam: Rs 2,200 per sq.ft (2024)
• Elumalai Nayagar Street: Rs 250 per sq.ft (2024)
• Kakkanji street: Rs 100 per sq.ft (2024)
• Dr. Ramdoss Street: Rs 250 per sq.ft (2024)
• Kalanijar Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in GSN Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, leading to a total cost of Rs 54,000 for these fees. 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 GSN Nagar?

The Sub Registrar Office that covers GSN Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To locate your nearest SRO, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Karasangal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. This value helps in maintaining transparency and standardization in the real estate market.

Frequently asked questions

What is the current guideline value of GSN Nagar?

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

How has the guideline value changed over the years?

The guideline value of GSN Nagar has remained at Rs 600 per sq.ft since 2012, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification for GSN Nagar?

GSN Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 6,00,000, leading to specific fees based on this amount.