Guideline Value for Gnamani Nagar 4th Street

Gnamani Nagar 4th Street guideline value

The current guideline value of Gnamani Nagar 4th 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 4th Street has changed

The guideline value for Gnamani Nagar 4th Street has undergone several revisions over the years. The most recent revision in 2024 sets the value at Rs 1,320 per sq.ft, which is an increase of 10% 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 an increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. This consistent rise in the guideline value reflects changes in the local real estate landscape.

Guideline values in Pozhichalur

In Pozhichalur, 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 guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the guideline value of Gnamani Nagar 4th Street.

• Gnamani Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Gnamani Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Gnamani Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Gnamani Nagar 1st 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 4th 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, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Gnamani Nagar 4th Street?

The Sub Registrar Office that covers Gnamani Nagar 4th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pozhichalur. It is the minimum value set by the government for property transactions, which ensures that the property is registered at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Gnamani Nagar 4th Street?

The current guideline value of Gnamani Nagar 4th 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 increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64%. The 2023 revision was Rs 1,200 per sq.ft, showing a 10% increase from that figure.

What is the registration office for Gnamani Nagar 4th Street?

The registration office for Gnamani Nagar 4th Street is the Pammal Sub Registrar Office, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for property in Gnamani Nagar 4th Street?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

How is the guideline value determined in Pozhichalur?

The guideline value in Pozhichalur is determined by the Registration Department and is based on various factors, including land classification and local market conditions. It serves as a benchmark for property transactions in the area.