Guideline Value for Gnanantha Nagar North 4th Street

Gnanantha Nagar North 4th Street guideline value

The current guideline value of Gnanantha Nagar North 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Gnanantha Nagar North 4th Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 2,750 per sq.ft, reflecting a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as per the 2024 revision. The median guideline value for the village is Rs 2,400 per sq.ft, placing Gnanantha Nagar North 4th Street's current value above this median.

• Gnanantha Nagar North 3rd Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 5th Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 2nd Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 1st Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar Link Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanantha Nagar North 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost Rs 2,47,500. Please 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.

Which Sub Registrar Office covers Gnanantha Nagar North 4th Street?

The Sub Registrar Office that covers Gnanantha Nagar North 4th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are payable to the government.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth, preventing undervaluation and ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value for Gnanantha Nagar North 4th Street?

The current guideline value for Gnanantha Nagar North 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,750 per sq.ft in 2024.

What is the land classification for Gnanantha Nagar North 4th Street?

Gnanantha Nagar North 4th Street is classified as Commercial Class I Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Gnanantha Nagar North 4th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.