Guideline Value for GANGAI AMMAN KOIL CROSS STREET

Gangai Amman Koil Cross Street guideline value

The current guideline value of Gangai Amman Koil Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

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

The guideline value for Gangai Amman Koil Cross Street has seen several revisions over the years. In 2003, the value was Rs 84 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then rose dramatically by 300% to reach Rs 2,000 per sq.ft in 2012. However, it fell by 33% to Rs 1,340 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2519%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Gangai Amman Koil Cross Street.

• Gangai Amman Koil Road (Kuppam Road): Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street (Near Meenavar Kuppam): Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street (Near Shalimar Garden): Rs 2,200 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Gem Granites Road (Know As Chinnadi): Rs 2,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. It is important to note that the 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 Koil Cross Street?

The Sub Registrar Office that covers Gangai Amman Koil Cross Street 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Gangai Amman Koil Cross Street 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 significantly from Rs 84 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2519% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Gangai Amman Koil Cross Street?

The Neelankarai Sub Registrar Office handles property registrations for Gangai Amman Koil Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined for properties in Enjambakkam?

The guideline value is determined by the Registration Department based on various factors, including land classification and previous revisions. It serves as a standard for property transactions in the area.