Guideline Value for GANANATHAR KOIL STREET

Gananathar Koil Street guideline value

The current guideline value of Gananathar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gananathar Koil Street has changed

Over the years, the guideline value of Gananathar Koil Street has seen significant changes. The earliest recorded figure is Rs 422 per sq.ft in 2002, which increased to Rs 382 per sq.ft in 2003, marking a decrease of 9%. In 2007, the value rose sharply to Rs 500 per sq.ft, an increase of 31%. The following revision in 2012 saw the value jump to Rs 2,000 per sq.ft, reflecting a substantial increase of 300%. However, by 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The next revision in 2023 brought the value back up to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in 2024, marking a rise of 10%.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2002 to 2024, the guideline value has increased by 421%. The register has no figure for this street in the years not mentioned above.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Gananathar Koil Street's 2024 figure is below this median.

• Gandhiji 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 3rd Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 5th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gananathar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gananathar Koil Street?

The Sub Registrar Office that covers Gananathar Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties. This value ensures transparency and fairness in property transactions, as it reflects the government's assessment of property prices in the area.

Frequently asked questions

What is the current guideline value of Gananathar Koil Street?

The current guideline value of Gananathar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 422 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 421% over the years.

Where can I find the registration office for Gananathar Koil Street?

The registration office for Gananathar Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property, impacting the stamp duty and registration fees during a transaction. Buyers and sellers must consider this value to ensure compliance with government regulations.