Guideline Value for GANGAI STREET

Gangai Street guideline value

The current guideline value of Gangai Street in Kakkalur village, under the Tiruvallur Joint 1 SRO, is Rs 626 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - III land classification.

How the guideline value of Gangai Street has changed

In the 2007 revision, the guideline value was set at Rs 100 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 625 per sq.ft, marking a remarkable increase of 525%. However, in the 2017 revision, the value decreased to Rs 419 per sq.ft, which represented a decline of 33%. The 2023 revision maintained the value at Rs 626 per sq.ft, and the 2024 revision also holds the same figure, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 526% in the guideline value of Gangai Street.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value. The values range from Rs 400 to Rs 3,000 per sq.ft, with the median being Rs 626 per sq.ft. The guideline value of Gangai Street for 2024 aligns with this median.

• Ganesh Vista Nagar: Rs 626 per sq.ft (2024)
• Ganapathy Street: Rs 626 per sq.ft (2024)
• Gaingai Main Street/ Street: Rs 626 per sq.ft (2024)
• Green Gold Lay Out: Rs 626 per sq.ft (2024)
• Hai Mathaji Nagar: Rs 626 per sq.ft (2024)
• Empire City Part-I -To -IV: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 6,26,000. The stamp duty at 7% amounts to Rs 43,820, and the registration fee at 2% is Rs 12,520, together totaling Rs 56,340. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Street?

The Sub Registrar Office covering Gangai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kakkalur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction's worth. This value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Gangai Street?

The current guideline value of Gangai Street is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Gangai Street has seen various changes, from Rs 100 per sq.ft in 2007 to Rs 626 per sq.ft in 2024, reflecting an overall increase of 526% since 2007.

What are the stamp duty and registration fees for a property in Gangai Street?

For a property with a guideline value of Rs 6,26,000, the stamp duty is Rs 43,820 and the registration fee is Rs 12,520, totaling Rs 56,340.

Which Sub Registrar Office covers Gangai Street?

The Tiruvallur Joint 1 Sub Registrar Office covers Gangai Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification of Gangai Street?

Gangai Street falls under the Residential Class II Type - III land classification, which is significant for understanding its usage and development potential.