Guideline Value for Gnanaoli Street

Gnanaoli Street guideline value

The current guideline value of Gnanaoli Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Gnanaoli Street has changed

The guideline value for Gnanaoli Street has seen several revisions over the years. The earliest recorded value was Rs 800 per sq.ft in 2007. This increased significantly to Rs 4,500 per sq.ft in 2012, reflecting a rise of 463%. However, it then decreased to Rs 3,015 per sq.ft in 2017, which was a decline of 33%. Following this, the value surged to Rs 4,500 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, an increase of 9% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 513%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Gnanaoli Street.

• Gnanavadivu Street: Rs 3,300 per sq.ft (2024)
• Gnanamani Street: Rs 4,100 per sq.ft (2024)
• Gokulam Colony: Rs 6,000 per sq.ft (2024)
• Giri Street: Rs 4,900 per sq.ft (2024)
• Gopalan Street (V.P): Rs 7,100 per sq.ft (2024)
• Gopalan Street (W.M): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Gnanaoli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value is Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gnanaoli Street?

The Sub Registrar Office that covers Gnanaoli Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum price at which a property can be registered. This value is used for calculating stamp duty and registration fees, ensuring that these costs reflect the property's value as assessed by the government.

When a property is sold, the guideline value helps in establishing a fair transaction price. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Gnanaoli Street?

The current guideline value of Gnanaoli Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 513% over the years.

What are the stamp duty and registration fees for property on Gnanaoli Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Gnanaoli Street?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Gnanaoli Street.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is the same as the current guideline value for Gnanaoli Street.