Guideline Value for Gunasekaran Thottam

Gunasekaran Thottam guideline value

The current guideline value of Gunasekaran Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village, under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gunasekaran Thottam has changed

The guideline value for Gunasekaran Thottam has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 1,500 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2024 revision, marking a change of +13%.

Prior to the 2023 revision, the register does not provide any figures for Gunasekaran Thottam. The most recent figure reflects a notable increase from the previous year, indicating a shift in the valuation for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gunasekaran Thottam's 2024 figure below that median.

• Gunaha Garden Hamlet: Rs 4,400 per sq.ft (2024)
• Grama Nedunchalai School Street - C.G.S.Farm 1st Joint Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai School Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai School Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 3rd Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 2nd Cross Street Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gunasekaran Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gunasekaran Thottam?

The Sub Registrar Office covering Gunasekaran Thottam is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gunasekaran Thottam?

The current guideline value of Gunasekaran Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

In the recent 2023 to 2024 revision, the guideline value increased from Rs 1,500 per sq.ft to Rs 1,700 per sq.ft, which is a change of +13%.

What is the land classification for Gunasekaran Thottam?

The land classification for Gunasekaran Thottam is Residential Class IV Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 17,00,000, the stamp duty would be calculated at 7% of that amount.