Guideline Value for GANGADEESHWARAR KOIL 2ND LANE

Gangadeeshwarar Koil 2nd Lane guideline value

The current guideline value of Gangadeeshwarar Koil 2nd Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Gangadeeshwarar Koil 2nd Lane has changed

The guideline value for Gangadeeshwarar Koil 2nd Lane has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,800 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, this value dropped by 33% to Rs 4,355 per sq.ft in the 2017 revision. The following revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 6,500 per sq.ft. Most recently, the 2024 revision set the current guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 294%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value among these streets is Rs 5,500 per sq.ft, making the current guideline value of Gangadeeshwarar Koil 2nd Lane above the median.

• Gangadeeshwarar Koil 1st Lane: Rs 7,100 per sq.ft (2024)
• Gangadeeshwarar Koil 3rd Lane: Rs 7,100 per sq.ft (2024)
• Gangadeeshwarar Koil 4th Lane: Rs 7,100 per sq.ft (2024)
• Gangadeeshwarar Koil Avenue: Rs 7,100 per sq.ft (2024)
• Gangadeeshwarar Koil Street: Rs 8,800 per sq.ft (2024)
• Gangaiamma Battyer 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gangadeeshwarar Koil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, leading to a total fee of Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangadeeshwarar Koil 2nd Lane?

The Sub Registrar Office that covers Gangadeeshwarar Koil 2nd Lane 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 Purasaivakkam

The guideline value plays a crucial role in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

When you are buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Gangadeeshwarar Koil 2nd Lane?

The current guideline value of Gangadeeshwarar Koil 2nd Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 294% over the years.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Gangadeeshwarar Koil 2nd Lane?

The Purasaivakkam Sub Registrar Office covers Gangadeeshwarar Koil 2nd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Gangadeeshwarar Koil 2nd Lane?

The land classification for Gangadeeshwarar Koil 2nd Lane is Residential Class II Type - III.