Guideline Value for Gnanavadivu Street

Gnanavadivu Street guideline value

The current guideline value of Gnanavadivu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Gnanavadivu Street has changed

Over the years, the guideline value of Gnanavadivu Street has experienced several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a growth of 275%. However, by 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for Gnanavadivu Street. From 2017 to 2023, there was a notable increase of 49%, bringing the value to Rs 3,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 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 guideline value for these streets is Rs 4,900 per sq.ft, placing Gnanavadivu Street's 2024 figure below this median.

• Gnanaoli Street: Rs 4,900 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 Gnanavadivu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gnanavadivu Street?

The Sub Registrar Office that covers Gnanavadivu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It serves as a baseline for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Gnanavadivu Street?

The current guideline value of Gnanavadivu Street is Rs 3,300 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 3,300 per sq.ft in 2024, reflecting an overall increase of 313%.

What is the land classification for Gnanavadivu Street?

Gnanavadivu Street is classified as Residential Class IV Type - II.

Where is the Ashok Nagar Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Gnanavadivu Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000 based on the guideline value.