Guideline Value for GANGAIAMMAN KOIL STREET (WARD -17)

Gangaiamman Koil Street (Ward -17) guideline value

The current guideline value of Gangaiamman Koil Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Gangaiamman Koil Street (Ward -17) has changed

The guideline value for Gangaiamman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017, marking a decline of 33%. However, this was followed by a significant increase to Rs 600 per sq.ft in the 2023 revision, and further to Rs 660 per sq.ft in 2024, reflecting a 10% rise from the previous year and an overall increase of 10% from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most notable increase being a 49% rise from 2017 to 2023.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, positioning Gangaiamman Koil Street's 2024 value below this median.

• Ganesh Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Ganpathypuram (Sa): Rs 990 per sq.ft (2024)
• Ganthi Nagar (Pa): Rs 440 per sq.ft (2024)
• Gandhi Nagar 7th Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 6th Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 5th Street (Ward -3): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil Street (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangaiamman Koil Street (Ward -17)?

The Sub Registrar Office that covers Gangaiamman Koil Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which can vary depending on the property size and value. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing significant fluctuations over the years.

What are the other guideline values in Panangottur?

In Panangottur, the guideline values range from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Gangaiamman Koil Street's guideline value is below this median.

What fees are associated with buying property in Gangaiamman Koil Street?

When buying property, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 59,400 based on the current guideline value.

Which office handles property registrations for Gangaiamman Koil Street?

The Chengleput Joint II Sub Registrar Office handles property registrations for Gangaiamman Koil Street (Ward -17). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.