Guideline Value for Gnana Sambandam Street

Gnana Sambandam Street guideline value

The current guideline value of Gnana Sambandam Street is Rs 1,650 per sq.ft, effective from the 2024 revision. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gnana Sambandam Street has changed

The guideline value register does not provide figures for Gnana Sambandam Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent figure is from the 2024 revision, which is Rs 1,650 per sq.ft.

There have been no changes in the guideline value between the revisions listed above. The current value of Rs 1,650 per sq.ft remains unchanged since the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Gnana Sambandam Street's 2024 figure below this median.

• Gogulam Street/Balaji Nagar /Kubera Nagar Extension 11th Street: Rs 3,850 per sq.ft (2024)
• Gokilam Street: Rs 1,650 per sq.ft (2024)
• Ganga Kaveri Street SRVS: Rs 2,750 per sq.ft (2024)
• Gopal Street: Rs 1,650 per sq.ft (2024)
• Gangai Kavery Street: Rs 1,650 per sq.ft (2024)
• Govindasamy Nagar 10th Street/New Kubera Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gnana Sambandam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Gnana Sambandam Street?

The Sub Registrar Office that covers Gnana Sambandam Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in property transactions, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations when finalizing property deals.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction price. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration at the Velacheri SRO.

Frequently asked questions

What is the current guideline value of Gnana Sambandam Street?

The current guideline value of Gnana Sambandam Street is Rs 1,650 per sq.ft, effective from the 2024 revision.

What land classification applies to Gnana Sambandam Street?

The land classification for Gnana Sambandam Street is Residential Class II Type - II.

How many streets are there in Madipakkam-1 under the Velacheri SRO?

There are 1,823 streets in Madipakkam-1 under the Velacheri SRO that carry a 2024 guideline value.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft for the year 2024.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.