Guideline Value for GANGAIAMMAN KOIL 5TH CROSS STREET

Gangaiamman Koil 5th Cross Street guideline value

The current guideline value of Gangaiamman Koil 5th 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 5th Cross Street has changed

The guideline value for Gangaiamman Koil 5th Cross Street has undergone several revisions over the years. In 2012, the figure was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. The value saw a significant increase of 49% to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

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

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, making the guideline value of Gangaiamman Koil 5th Cross Street below that median.

• Gangaiamman Koil 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• 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 2nd 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 5th 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 would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangaiamman Koil 5th Cross Street?

The Sub Registrar Office that covers Gangaiamman Koil 5th 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 for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as the basis for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the higher of the guideline value or the sale price is considered for duty calculation. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil 5th Cross Street?

The current guideline value of Gangaiamman Koil 5th 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 increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Gangaiamman Koil 5th Cross Street?

The land classification for Gangaiamman Koil 5th Cross Street is Residential Class IV Type - III.

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.

Which office handles registrations for Gangaiamman Koil 5th Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Gangaiamman Koil 5th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.