Guideline Value for Gnanantha Nagar North Street

Gnanantha Nagar North Street guideline value

The current guideline value of Gnanantha Nagar North 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 Street has changed

Over the years, the guideline value of Gnanantha Nagar North Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged in the 2017 revision where it dropped to Rs 1,675 per sq.ft. However, the 2023 revision increased it to Rs 2,500 per sq.ft, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing the guideline value of Gnanantha Nagar North Street above this median.

• Gnanantha Nagar North 5th Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 4th Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 3rd Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 2nd Street: Rs 2,750 per sq.ft (2024)
• Gnanatha Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Gnanantha Nagar North 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanantha Nagar North 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, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gnanantha Nagar North Street?

The Sub Registrar Office that covers Gnanantha Nagar North 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.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gnanantha Nagar North Street?

The current guideline value of Gnanantha Nagar North 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 increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, representing a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification of Gnanantha Nagar North Street?

Gnanantha Nagar North Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the area of Gnanantha Nagar North Street?

The Selaiyur Sub Registrar Office covers Gnanantha Nagar North Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.