Guideline Value for GANGADEESHWARAR KOIL AVENUE

Gangadeeshwarar Koil Avenue guideline value

The current guideline value of Gangadeeshwarar Koil Avenue 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 Avenue has changed

The guideline value for Gangadeeshwarar Koil Avenue has seen several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 261%. However, the value decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value then rose substantially to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 294%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 5,500 per sq.ft. The guideline value of Gangadeeshwarar Koil Avenue is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, resulting in a total 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 more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangadeeshwarar Koil Avenue?

The Sub Registrar Office covering Gangadeeshwarar Koil Avenue is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Gangadeeshwarar Koil Avenue?

The current guideline value of Gangadeeshwarar Koil Avenue 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 office should I visit for property registration?

The Purasaivakkam Sub Registrar Office is responsible for property registrations in Gangadeeshwarar Koil Avenue, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Gangadeeshwarar Koil Avenue?

Gangadeeshwarar Koil Avenue is classified as Residential Class II Type - III, indicating its designation for residential purposes.