Guideline Value for GANGAI AMMAN KOIL STREET

Gangai Amman Koil Street guideline value

The current guideline value of Gangai Amman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gangai Amman Koil Street has changed

The guideline value for Gangai Amman Koil Street has undergone several revisions over the years. In 2003, the value was Rs 238 per sq.ft, which increased significantly to Rs 636 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,010 per sq.ft, before climbing to Rs 3,000 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,287%. The register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with the median being Rs 3,300 per sq.ft. Gangai Amman Koil Street's 2024 figure aligns with this median.

• GANGAI AMMAN KOIL 9th STREET (OMR): Rs 3,300 per sq.ft (2024)
• GANGAI AMMAN KOIL 8th STREET (OMR): Rs 3,300 per sq.ft (2024)
• GANGAI AMMAN KOIL 7th STREET: Rs 3,300 per sq.ft (2024)
• GANGAI AMMAN KOIL 6th STREET (OMR): Rs 3,300 per sq.ft (2024)
• GANGAI AMMAN KOIL 5th STREET: Rs 3,300 per sq.ft (2024)
• GANGAI AMMAN KOIL 4th STREET: Rs 3,300 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 guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 specific calculations.

Which Sub Registrar Office covers Gangai Amman Koil Street?

The Sub Registrar Office that covers Gangai Amman Koil 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 information.

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

The guideline value plays a crucial role during property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that all transactions are recorded fairly. When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value is updated periodically, and it is advisable to check the latest figures before proceeding with any transaction. This ensures compliance with local regulations and helps in understanding the financial implications of the purchase or sale.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 238 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,287% over this period.

What is the stamp duty rate for properties in Gangai Amman Koil Street?

The stamp duty rate for properties in Gangai Amman Koil Street is 7% of 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.

How can I calculate the registration fee for a property?

The registration fee is calculated at 2% of the guideline value. For precise calculations, you can use the stamp duty and registration fee calculator.