Guideline Value for G.A.Koil 3rd Street

G.A.Koil 3rd Street guideline value

The current guideline value of G.A.Koil 3rd Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of G.A.Koil 3rd Street has changed

The guideline value for G.A.Koil 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then changed to Rs 1,876 per sq.ft in the 2017 revision, marking a decrease of 33%. In 2023, the value increased to Rs 2,800 per sq.ft, followed by a further increase to Rs 3,100 per sq.ft in the 2024 revision, reflecting an 11% rise 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 have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with the median value being Rs 3,100 per sq.ft. The guideline value of G.A.Koil 3rd Street matches this median.

• G.A.Koil 2nd Street: Rs 3,100 per sq.ft (2024)
• G.A.Koil 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total 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, bringing the total to Rs 2,79,000. 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 G.A.Koil 3rd Street?

The G.A.Koil 3rd Street falls under 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps to establish a fair basis for the transaction, protecting both the buyer and seller by ensuring that the property is valued appropriately according to government standards.

Frequently asked questions

What is the current guideline value of G.A.Koil 3rd Street?

The current guideline value of G.A.Koil 3rd 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 back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What are the stamp duty and registration fees for property in G.A.Koil 3rd Street?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which office handles registrations for G.A.Koil 3rd Street?

The Chennai South Joint II Sub Registrar Office handles registrations for G.A.Koil 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of G.A.Koil 3rd Street?

G.A.Koil 3rd Street is classified as Residential Class II Type - I under the Chennai South Joint II SRO.