Guideline Value for GANGAI AMMAN KOIL STREET & EXTENTION

Gangai Amman Koil Street & Extention guideline value

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

How the guideline value of Gangai Amman Koil Street & Extention has changed

Over the years, the guideline value for Gangai Amman Koil Street & Extention has seen significant changes. The 2007 revision set the value at Rs 500 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, the value fell to Rs 1,340 per sq.ft in the 2017 revision, a decrease of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft following the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have 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 Street & Extention's 2024 guideline value is above this median.

• Gangai Amman Koil Street Extension: Rs 2,200 per sq.ft (2024)
• GANGAI AMMAN KOIL 1st STREET (SOUTH): Rs 2,200 per sq.ft (2024)
• GANGAI AMMAN KOIL 1st STREET (NORTH): 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 Street & Extention

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 cost for these fees 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.

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

Which Sub Registrar Office covers Gangai Amman Koil Street & Extention?

The Sub Registrar Office covering Gangai Amman Koil Street & Extention 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 further assistance.

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 minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This helps in ensuring that all financial obligations are met according to the prevailing rates.

Frequently asked questions

What is the current guideline value for Gangai Amman Koil Street & Extention?

The current guideline value for Gangai Amman Koil Street & Extention 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing a total increase of 340% over this period.

What is the registration office for Gangai Amman Koil Street & Extention?

The registration office for Gangai Amman Koil Street & Extention is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees based on the guideline value?

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

Where can I find more information about stamp duty and registration fees?

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