Guideline Value for GANGAIAMMA BATTYER 2ND STREET

Gangaiamma Battyer 2nd Street guideline value

The current guideline value of Gangaiamma Battyer 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - III.

How the guideline value of Gangaiamma Battyer 2nd Street has changed

Over the years, the guideline value for Gangaiamma Battyer 2nd Street has seen several revisions. The 2007 revision set the value at Rs 650 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,675 per sq.ft in 2017. The 2023 revision raised it to Rs 2,500 per sq.ft, and the most recent 2024 revision has increased it further to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 315%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Gangaiamma Battyer 2nd Street is below this median.

• Gangaiamma Battyer 1st Street: Rs 2,700 per sq.ft (2024)
• Gangaiamma Battyer 3rd Street: Rs 2,700 per sq.ft (2024)
• Gangaiamma Battyer Street: Rs 2,700 per sq.ft (2024)
• Gangadeeshwarar Koil Street: Rs 8,800 per sq.ft (2024)
• Gangadeeshwarar Koil Avenue: Rs 7,100 per sq.ft (2024)
• Gangadeeshwarar Koil 4th Lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamma Battyer 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Gangaiamma Battyer 2nd Street?

The Sub Registrar Office that covers Gangaiamma Battyer 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the officially recognized value of the property.

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

Frequently asked questions

What is the current guideline value of Gangaiamma Battyer 2nd Street?

The current guideline value of Gangaiamma Battyer 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 315% over this period.

What is the median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, with Gangaiamma Battyer 2nd Street's 2024 value being below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,43,000 in fees.

Where can I find the Sub Registrar Office for Gangaiamma Battyer 2nd Street?

The Sub Registrar Office for Gangaiamma Battyer 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.