Guideline Value for GTM GARDEN

Gtm Garden guideline value

The current guideline value of Gtm Garden is Rs 702 per sq.ft, effective from 1 July 2024. It is located in Ponneri_2 village under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Gtm Garden has changed

The guideline value for Gtm Garden has seen several revisions over the years. The earliest recorded figure is from 2017, which was Rs 603 per sq.ft. This increased to Rs 900 per sq.ft in 2023. However, the latest revision in 2024 has set the guideline value at Rs 702 per sq.ft, marking a decrease of 22% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 16%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Gtm Garden. The significant increase from 2017 to 2023 by 49% indicates a notable change before the recent decline in 2024.

Guideline values in Ponneri_2

Ponneri_2 village has 75 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,300 per sq.ft, with a median value of Rs 700 per sq.ft. Gtm Garden's current guideline value is above this median.

• Hariharan Bazar: Rs 1,200 per sq.ft (2024)
• Hariharan Bazar Street: Rs 1,200 per sq.ft (2024)
• Golden Avenue: Rs 700 per sq.ft (2024)
• Gandhi Road: Rs 702 per sq.ft (2024)
• Jayammal Nagar: Rs 700 per sq.ft (2024)
• Kallukadai Medu: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Gtm Garden

For a 1,000 sq.ft plot at the current rate of Rs 702 per sq.ft, the guideline value is Rs 7,02,000. The stamp duty at 7% would be Rs 49,140, and the registration fee at 2% would be Rs 14,040, totaling Rs 63,180. 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 precise calculations.

Which Sub Registrar Office covers Gtm Garden?

The Gtm Garden area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor when registering property in Ponneri_2. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value serves as a reference point for the transaction. It is essential for both parties to understand this value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Gtm Garden?

The current guideline value of Gtm Garden is Rs 702 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 603 per sq.ft in 2017 to Rs 900 per sq.ft in 2023, and then decreased to Rs 702 per sq.ft in 2024.

What is the land classification for Gtm Garden?

Gtm Garden is classified as Residential Class I Type - I.

Which office handles the registration for Gtm Garden?

The Ponneri Sub Registrar Office handles the registration for Gtm Garden, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the 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 1,000 sq.ft plot at Rs 702 per sq.ft, the total guideline value is Rs 7,02,000.