Guideline Value for GANGAI AMMAN KOIL STREET

Gangai Amman Koil Street guideline value

The current guideline value of Gangai Amman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Gangai Amman Koil Street has changed

The guideline value for Gangai Amman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Gangai Amman Koil Street's 2024 figure below that median.

• Gandhi Nagar: Rs 1,650 per sq.ft (2024)
• E.V.P. Park Avenue 2nd Main Road: Rs 2,750 per sq.ft (2024)
• E.V.P. Park Avenue 1st Main Road: Rs 2,750 per sq.ft (2024)
• E.V.P. Park Avenue: Rs 2,750 per sq.ft (2024)
• Durgai Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Dhanalskhmi Nagar Phase II: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Gangai Amman Koil Street?

The Sub Registrar Office that covers Gangai Amman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions within Iyyappanthangal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. Buyers should be aware that the guideline value is an important factor in the registration process.

When a property is sold, the sale price and the guideline value are compared, and the higher amount is used to calculate the applicable duties and fees. 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 Street?

The current guideline value of Gangai Amman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 10% from 2012 to 2024.

What is the land classification for Gangai Amman Koil Street?

Gangai Amman Koil Street is classified as Residential Class IV Type - I, which indicates its zoning for residential use.

What are the registration fees for properties on this street?

The registration fees for properties on Gangai Amman Koil Street are calculated based on the guideline value, which is currently Rs 1,650 per sq.ft. For example, a 1,000 sq.ft property would incur a total of Rs 1,48,500 in stamp duty and registration fees.

Which Sub Registrar Office handles transactions for this street?

The Chennai South Joint I Sub Registrar Office is responsible for handling transactions for Gangai Amman Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.