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Guideline Value

Corporate

Guideline Value for Gnanatha Nagar 1st Cross Street

₹2750/sq.ft.

The guideline value for Gnanatha Nagar 1st Cross Street in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Gnanatha Nagar 1st Cross Street

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Gnanatha Nagar 1st Cross Street guideline value

The current guideline value of Gnanatha Nagar 1st Cross 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 Gnanatha Nagar 1st Cross Street has changed

Over the years, the guideline value for Gnanatha Nagar 1st Cross Street has seen several revisions. The earliest available figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. In 2017, it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, which is a 49% rise. The most recent revision in 2024 has set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, making the guideline value of Gnanatha Nagar 1st Cross Street above the median.

Stamp duty and registration fee for property in Gnanatha Nagar 1st Cross 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 is calculated at 7%, which totals Rs 1,92,500, while the registration fee is charged at 2%, amounting to Rs 55,000. Therefore, the total cost for stamp duty and registration fee combined is 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnanatha Nagar 1st Cross Street?

The Gnanatha Nagar 1st Cross Street falls under the jurisdiction of 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 in determining the stamp duty and registration fees when buying or selling property in Madambakkam. It serves as a benchmark for the minimum value at which properties are registered, ensuring that the government collects the appropriate taxes on property transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and taxed accordingly, contributing to the revenue for local governance.

Frequently asked questions

What is the current guideline value of Gnanatha Nagar 1st Cross Street?

The current guideline value of Gnanatha Nagar 1st Cross 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 changed several times, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, a rise of 10%. The value was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

Which office handles property registrations for Gnanatha Nagar 1st Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Gnanatha Nagar 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty rates for properties in Gnanatha Nagar 1st Cross Street?

The stamp duty for properties in Gnanatha Nagar 1st Cross Street is calculated at 7% of the guideline value or sale price, whichever is higher. There is also a registration fee of 2% applicable.

How is the guideline value determined for properties in Madambakkam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical data. It serves as a standard for assessing property values for taxation purposes during registration.