Guideline Value for GANGAI AMMAN KOIL 1st STREET (NORTH)

GANGAI AMMAN KOIL 1st STREET (NORTH) guideline value

The current guideline value of GANGAI AMMAN KOIL 1st STREET (NORTH) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village and falls under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of GANGAI AMMAN KOIL 1st STREET (NORTH) has changed

According to the guideline value register, the earliest recorded revision for GANGAI AMMAN KOIL 1st STREET (NORTH) is from 2012, which set the value at Rs 2,000 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,340 per sq.ft. The 2023 revision increased the value significantly to Rs 2,000 per sq.ft, and the most recent 2024 revision further raised it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam village, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. GANGAI AMMAN KOIL 1st STREET (NORTH) is above this median value.

• GANGAI AMMAN KOIL 1st STREET (SOUTH): Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street Extension: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street & Extension: Rs 2,200 per sq.ft (2024)
• Gangappa Street: Rs 1,100 per sq.ft (2024)
• G.M.Housing Ltd.,: Rs 1,100 per sq.ft (2024)
• Gajarajan Street Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in GANGAI AMMAN KOIL 1st STREET (NORTH)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers GANGAI AMMAN KOIL 1st STREET (NORTH)?

The Sub Registrar Office covering GANGAI AMMAN KOIL 1st STREET (NORTH) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Karapakkam, as it determines the baseline for calculating stamp duty and registration fees. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price set by the government.

During registration, the higher of the guideline value and the sale price is used to calculate the applicable duties and fees. This practice helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of GANGAI AMMAN KOIL 1st STREET (NORTH)?

The current guideline value of GANGAI AMMAN KOIL 1st STREET (NORTH) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for GANGAI AMMAN KOIL 1st STREET (NORTH)?

GANGAI AMMAN KOIL 1st STREET (NORTH) is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in GANGAI AMMAN KOIL 1st STREET (NORTH)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 1,54,000.