Guideline Value for GTM GARDEN

Gtm Garden guideline value

The current guideline value of Gtm Garden, located in Ponneri village under the Ponneri SRO, is Rs 900 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Gtm Garden has changed

In the 2017 revision, the guideline value for Gtm Garden was Rs 603 per sq.ft. It saw a significant increase of 49% to Rs 900 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision, maintaining the value at Rs 900 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. The values in the recent revisions (2023 and 2024) indicate a stable guideline value, with no change observed between these two years.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft, with a median value of Rs 700 per sq.ft. Gtm Garden's 2024 figure of Rs 900 per sq.ft is above this median.

• G.V.N. Nagar: Rs 700 per sq.ft (2024)
• Hariharan Bazar Street: Rs 1,200 per sq.ft (2024)
• Golden Avenue: Rs 700 per sq.ft (2024)
• Ganesh Nagar: Rs 700 per sq.ft (2024)
• Jayam Nagar: Rs 700 per sq.ft (2024)
• Jayam Vip City Phase II: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Gtm Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, resulting in a total of Rs 81,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gtm Garden?

The Sub Registrar Office that covers Gtm Garden is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ponneri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This means that even if the sale price is lower, the stamp duty and registration fees will be based on the guideline value, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Gtm Garden?

The current guideline value of Gtm Garden is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, with no change in the value for 2024. Overall, there has been a 49% increase from 2017 to 2024.

What is the land classification for Gtm Garden?

Gtm Garden falls under the Residential Class I Type - I land classification.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Gtm Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,00,000, the stamp duty would be Rs 63,000 at a rate of 7%.