Guideline Value for GANGAIAMMAN KOIL 3RD CROSS STREET

Gangaiamman Koil 3rd Cross Street guideline value

The current guideline value of Gangaiamman Koil 3rd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Gangaiamman Koil 3rd Cross Street has changed

The guideline value for Gangaiamman Koil 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, indicating that the guideline value for Gangaiamman Koil 3rd Cross Street is below this median.

• Gangaiamman Koil 2nd Street 1st Cross Street: Rs 770 per sq.ft (2024)
• Gangaiamman Koil 2nd Street: Rs 770 per sq.ft (2024)
• Gangaiamman Koil 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil 5th Cross Street: Rs 1,100 per sq.ft (2024)
• Ganapathy Nagar /Annex: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangaiamman Koil 3rd Cross Street?

The Sub Registrar Office that covers Gangaiamman Koil 3rd Cross 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 here.

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

The guideline value is a crucial factor in property transactions in Vanagaram. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for both parties to agree on the sale price, as the higher of the guideline value or the sale price will be used to calculate the duties owed.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil 3rd Cross Street?

The current guideline value of Gangaiamman Koil 3rd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Vanagaram?

The median guideline value for streets in Vanagaram is Rs 1,660 per sq.ft, which means Gangaiamman Koil 3rd Cross Street's value is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Gangaiamman Koil 3rd Cross Street?

The Sub Registrar Office for Gangaiamman Koil 3rd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.