Guideline Value for GANGAI AMMAN KOIL CROSS STREET EXTENSION

Gangai Amman Koil Cross Street Extension guideline value

The current guideline value of Gangai Amman Koil Cross Street Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangai Amman Koil Cross Street Extension has changed

The guideline value for Gangai Amman Koil Cross Street Extension has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This increase reflects the adjustments made in the guideline values across various streets in the area. The 2024 figure aligns with the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for Gangai Amman Koil Cross Street Extension.

• Gangai Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Main Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Main Street Extension: Rs 2,200 per sq.ft (2024)
• Gangaiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Gangaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Koil Cross Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Amman Koil Cross Street Extension?

The Gangai Amman Koil Cross Street Extension falls under 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 Sholinganallur - 1

The guideline value is a crucial factor during property registration in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that both the buyer and seller are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Gangai Amman Koil Cross Street Extension?

The current guideline value of Gangai Amman Koil Cross Street Extension 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 increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this area?

The land classification for Gangai Amman Koil Cross Street Extension is Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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