Guideline Value

Corporate

Guideline Value for Gnanatha Nagar Main Road

₹2750/sq.ft.

The guideline value for Gnanatha Nagar Main Road 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 Main Road

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Gnanatha Nagar Main Road guideline value

The current guideline value of Gnanatha Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Gnanatha Nagar Main Road has changed

Over the years, the guideline value of Gnanatha Nagar Main Road has seen several revisions. The earliest recorded figure is from 2012, which was Rs 2,500 per sq.ft. This value then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,750 per sq.ft in the 2024 revision. The changes between these revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is a 10% increase. The 2024 value of Rs 2,750 per sq.ft is higher than the previous 2023 value of Rs 2,500 per sq.ft, reflecting a 10% increase. The fluctuations in the guideline value indicate the evolving nature of property valuation in this area.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft, where the median value is Rs 2,400 per sq.ft. Gnanatha Nagar Main Road's 2024 guideline value of Rs 2,750 per sq.ft is above this median, indicating its relative position within the village.

Stamp duty and registration fee for property in Gnanatha Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnanatha Nagar Main Road?

The Gnanatha Nagar Main Road falls under 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 plays a crucial role in the registration process when buying or selling property in Madambakkam. It is the minimum value set by the government for property transactions, ensuring that properties are not sold below a certain price. This value is used to calculate the stamp duty and registration fees, which are mandatory when registering a property.

When a buyer approaches the registration office, they must provide the guideline value along with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is in compliance with legal requirements and helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Gnanatha Nagar Main Road?

The current guideline value of Gnanatha Nagar Main Road 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 from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Gnanatha Nagar Main Road?

The land classification for Gnanatha Nagar Main Road is 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 stamp duty calculated for properties in Gnanatha Nagar Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be calculated at 7% of this amount.