Guideline Value for GANGAIAMMAN KOIL 2ND CROSS STREET

Gangaiamman Koil 2nd Cross Street guideline value

The current guideline value of Gangaiamman Koil 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangaiamman Koil 2nd Cross Street has changed

The guideline value for Gangaiamman Koil 2nd Cross Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest 2024 revision reflects a further increase to Rs 2,200 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The increase from 2017 to 2023 was 49%, highlighting the substantial growth in the guideline value during that period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Gangaiamman Koil 2nd Cross Street.

• Gangai Amman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Gangaiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Gangaiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gangadharan Thottam: Rs 1,700 per sq.ft (2024)
• Gangai Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil 2nd Cross Street

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, bringing the total cost for these fees to 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gangaiamman Koil 2nd Cross Street?

The Sub Registrar Office that covers Gangaiamman Koil 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, 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.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil 2nd Cross Street?

The current guideline value of Gangaiamman Koil 2nd Cross Street 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the land classification for Gangaiamman Koil 2nd Cross Street?

The land classification for Gangaiamman Koil 2nd Cross Street is Residential Class II Type - III.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

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