Guideline Value for GANGAI AMMAN COLONY

Gangai Amman Colony guideline value

The current guideline value for Gangai Amman Colony, located in Puliyur village under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gangai Amman Colony has changed

Over the years, the guideline value for Gangai Amman Colony has seen significant changes. In 2002, the guideline value was Rs 771 per sq.ft, which increased to Rs 847 per sq.ft in 2003. Following this, the value rose to Rs 1,200 per sq.ft in 2007, and then to Rs 4,600 per sq.ft in 2012. However, there was a decrease to Rs 3,082 per sq.ft in 2017. The value increased again to Rs 4,600 per sq.ft in 2023, culminating in the current rate of Rs 5,000 per sq.ft in 2024.

The changes between these revisions highlight the fluctuations in the guideline value. From 2002 to 2024, the overall increase is 549%. The most notable change occurred between 2007 and 2012, where the value surged by 283%. In contrast, there was a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 saw an increase of 9%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Gangai Amman Colony's 2024 figure below this median.

• Gangai Amman Koil 1st Cross Street -Vadapalani: Rs 5,800 per sq.ft (2024)
• Gangai Amman Koil 1st Lane -Vadapalani: Rs 5,800 per sq.ft (2024)
• Gangai Amman Koil 2nd Street -Vadapalani: Rs 5,800 per sq.ft (2024)
• Gangai Amman Koil 3rd Street -Choolaimedu: Rs 5,800 per sq.ft (2024)
• Gangai Amman Koil 3rd Street -Vadapalani: Rs 5,800 per sq.ft (2024)
• Gangai Amman Koil 4th Street -Vadapalani: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Amman Colony?

The Sub Registrar Office that covers Gangai Amman Colony 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Puliyur. 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. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees. If the sale price of the property is higher than the guideline value, the stamp duty is charged based on the sale price. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gangai Amman Colony?

The current guideline value of Gangai Amman Colony is Rs 5,000 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 771 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 549%.

What is the land classification of Gangai Amman Colony?

The land classification for Gangai Amman Colony is Residential Class III Type - I.

What are the stamp duty and registration fees for property in Gangai Amman Colony?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles property registrations in Gangai Amman Colony?

The Kodambakkam Sub Registrar Office handles property registrations in Gangai Amman Colony, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.