Guideline Value for GANGAI AMMAN KOIL STREET EXTENSION

Gangai Amman Koil Street Extension guideline value

The current guideline value for Gangai Amman Koil Street Extension is Rs 2,200 per sq.ft. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

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

The guideline value for Gangai Amman Koil Street Extension has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, which means there was a significant increase of 49% leading up to the 2023 revision. The 2012 revision recorded a value of Rs 2,000 per sq.ft, showing a decrease of 33% when compared to the 2017 figure.

From 2012 to 2024, the overall change in the guideline value has been an increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Gangai Amman Koil Street Extension's 2024 figure above that median.

• Gangai Amman Koil Street & Extention: 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 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, totaling 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Amman Koil Street Extension?

The Gangai Amman Koil 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 Karapakkam

The guideline value plays a crucial role when buying or selling property in Karapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Gangai Amman Koil 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 changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Gangai Amman Koil Street Extension?

The land classification for Gangai Amman Koil Street Extension is Residential Class II Type - II.

How is stamp duty calculated for properties in Gangai Amman Koil Street Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.

Which office handles registrations for Gangai Amman Koil Street Extension?

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