Guideline Value for Gnamani Nagar 2nd Street

Gnamani Nagar 2nd Street guideline value

The current guideline value of Gnamani Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Gnamani Nagar 2nd Street has changed

The guideline value for Gnamani Nagar 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is a 10% increase from Rs 1,200 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, marking a significant 49% increase to the 2023 figure. 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 64%. This reflects a consistent rise in the valuation of properties on Gnamani Nagar 2nd Street over the years.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Gnamani Nagar 2nd Street.

• Gnamani Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Gnamani Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Gnamani Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Gnamani Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Gandhi Street (6): Rs 1,650 per sq.ft (2024)
• Gandhi Street (15): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gnamani Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnamani Nagar 2nd Street?

The Gnamani Nagar 2nd Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pozhichalur. It serves as a basis for calculating stamp duty and registration fees, which are mandatory during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps determine the official value of the property, which can influence the overall costs involved in the transaction. Therefore, understanding the guideline value is essential for anyone looking to engage in real estate activities in the area.

Frequently asked questions

What is the current guideline value of Gnamani Nagar 2nd Street?

The current guideline value of Gnamani Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 64% over that period.

What is the land classification of Gnamani Nagar 2nd Street?

Gnamani Nagar 2nd Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Gnamani Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at a rate of 7%.