Guideline Value for GANGADHARAN STREET

Gangadharan Street guideline value

The current guideline value of Gangadharan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gangadharan Street has changed

The guideline value for Gangadharan Street has seen several revisions over the years. In 2002, the guideline value was Rs 921 per sq.ft, which increased to Rs 1,019 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, a jump of 18%. By 2012, the value was revised to Rs 4,500 per sq.ft, reflecting a substantial increase of 275% from the previous figure. However, this value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%.

In the subsequent years, the guideline value increased again, reaching Rs 4,500 per sq.ft in 2023, followed by the current figure of Rs 4,900 per sq.ft in 2024, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has risen by 432%.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,600 per sq.ft. Gangadharan Street's 2024 figure is below this median.

• Ganesa Road: Rs 3,300 per sq.ft (2024)
• Govindan Street: Rs 7,000 per sq.ft (2024)
• Govindasamy Street: Rs 6,000 per sq.ft (2024)
• Indira Gandhi Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 3rd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gangadharan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that 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 Gangadharan Street?

The Sub Registrar Office that covers Gangadharan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gangadharan Street?

The current guideline value of Gangadharan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 921 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 432% over this period.

What are the guideline values of other streets in Vadaagaram?

Other streets in Vadaagaram have varying guideline values, with rates ranging from Rs 3,300 to Rs 16,500 per sq.ft. For example, Govindan Street has a guideline value of Rs 7,000 per sq.ft.

What fees are associated with buying property on Gangadharan Street?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles registrations for properties in Gangadharan Street.