Guideline Value for Gnanabandidhar Nagar

Gnanabandidhar Nagar guideline value

The current guideline value of Gnanabandidhar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Gnanabandidhar Nagar has changed

The guideline value for Gnanabandidhar Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 200 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 900%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, followed by a rise to the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded guideline values for Gnanabandidhar Nagar in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Gnanabandidhar Nagar.

• Gopal Nagar: Rs 1,760 per sq.ft (2024)
• Gandhi Street: Rs 1,210 per sq.ft (2024)
• Gandhi Nagar: Rs 1,210 per sq.ft (2024)
• Gajalakshmi Street: Rs 1,210 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,210 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanabandidhar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Gnanabandidhar Nagar?

The Sub Registrar Office covering Gnanabandidhar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Mudichur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gnanabandidhar Nagar?

The current guideline value of Gnanabandidhar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the land classification of Gnanabandidhar Nagar?

Gnanabandidhar Nagar is classified as Residential Special Type - I under the Padappai SRO.

Where can I find the registration office for Gnanabandidhar Nagar?

The registration office for Gnanabandidhar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Gnanabandidhar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be calculated accordingly.