Guideline Value for COLONY GANGAIAMMAN KOIL STREET (E.C.R.)

Colony Gangaiamman Koil Street (E.C.R.) guideline value

The current guideline value of Colony Gangaiamman Koil Street (E.C.R.) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Colony Gangaiamman Koil Street (E.C.R.) has changed

The guideline value for Colony Gangaiamman Koil Street has seen several revisions over the years. In 2003, the guideline value was Rs 310 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. This was followed by a substantial rise to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 803%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Uthandi

In Uthandi village, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, placing Colony Gangaiamman Koil Street (E.C.R.) above this median.

• Danis Hotel Properties: Rs 1,100 per sq.ft (2024)
• David Garden: Rs 1,100 per sq.ft (2024)
• Chengani Amman Koil West Street: Rs 1,700 per sq.ft (2024)
• Chengani Amman Koil East Street: Rs 1,700 per sq.ft (2024)
• Dhamodharam Garden: Rs 1,100 per sq.ft (2024)
• Dhanalakshmi Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Gangaiamman Koil Street (E.C.R.)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Colony Gangaiamman Koil Street (E.C.R.)?

The Sub Registrar Office that covers Colony Gangaiamman Koil Street (E.C.R.) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the Registration Department. Buyers and sellers must consider this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Colony Gangaiamman Koil Street (E.C.R.)?

The current guideline value of Colony Gangaiamman Koil Street (E.C.R.) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 310 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 803% over this period.

What is the median guideline value in Uthandi?

The median guideline value in Uthandi is Rs 1,700 per sq.ft, with Colony Gangaiamman Koil Street (E.C.R.) being above this median at Rs 2,800 per sq.ft.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000.

Where is the Neelankarai Sub Registrar Office located?

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