Guideline Value for G.A.Koil 2nd Street

G.A.Koil 2nd Street guideline value

The current guideline value of G.A.Koil 2nd Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of G.A.Koil 2nd Street has changed

The guideline value for G.A.Koil 2nd Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in 2017, which marked a decline of 33%. However, the value saw a significant increase to Rs 2,800 per sq.ft in 2023, and then further rose to Rs 3,100 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is the same as the guideline value for G.A.Koil 2nd Street.

• G.A.Koil 1st Street: Rs 3,100 per sq.ft (2024)
• G.A.Koil 3rd Street: Rs 3,100 per sq.ft (2024)
• Gandhi Nagar: Rs 3,100 per sq.ft (2024)
• Evr Street: Rs 3,550 per sq.ft (2024)
• E.V.R.Periyar Street: Rs 3,550 per sq.ft (2024)
• Evr Periyar 1st Cross Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in G.A.Koil 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,100 per sq.ft, the guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G.A.Koil 2nd Street?

The Sub Registrar Office covering G.A.Koil 2nd Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Ramapuram. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. The fees are calculated based on the higher of the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of G.A.Koil 2nd Street?

The current guideline value of G.A.Koil 2nd Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for G.A.Koil 2nd Street?

The land classification for G.A.Koil 2nd Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for G.A.Koil 2nd Street?

The Sub Registrar Office for G.A.Koil 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.