Guideline Value for GANGAIAMMAN KOIL STREET

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gangaiamman Koil Street has changed

The guideline value for Gangaiamman Koil Street has seen several revisions over the years. In 2002, the value was Rs 397 per sq.ft, which increased to Rs 458 per sq.ft in 2003. The following revisions were significant, with the value jumping to Rs 1,000 per sq.ft in 2007, and then to Rs 2,800 per sq.ft in 2012. However, there was a decrease to Rs 1,876 per sq.ft in 2017. The value then rose to Rs 2,800 per sq.ft in 2023, before reaching the current rate of Rs 3,080 per sq.ft in 2024.

Looking at the changes between revisions, from 2002 to 2024, the overall increase is +676%. The change from 2017 to 2023 was +49%, while the increase from 2012 to 2017 was -33%. The jump from 2007 to 2012 was +180%, and from 2003 to 2007, it was +118%. The increase from 2002 to 2003 was +15%. There are no figures available for years not mentioned in the register for this street.

Guideline values in Ekkaduthangal

Ekkaduthangal has a total of 190 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 4,620 per sq.ft, placing Gangaiamman Koil Street's 2024 figure below this median.

• Gandhi Nagar Main Road: Rs 8,250 per sq.ft (2024)
• Gandhi Nagar Extn.: Rs 3,520 per sq.ft (2024)
• Ganapathy Nagar (Union Carbiod Backside): Rs 4,620 per sq.ft (2024)
• Ganapathy Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• Ganapathy Nagar II Street: Rs 3,520 per sq.ft (2024)
• Ganapathy Colony (Near Vandipattai): Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total fees together to Rs 2,77,200. 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 Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil 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 Ekkaduthangal

The guideline value plays a crucial role during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer and seller must ensure that the transaction is registered with the appropriate Sub Registrar Office, where the guideline value will be referenced to ascertain the applicable duties and fees. This ensures compliance with local regulations and accurate documentation of property transactions.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 397 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, representing an overall increase of +676% over the years.

What are the stamp duty and registration fees for properties in Gangaiamman Koil Street?

For a property measuring 1,000 sq.ft, the total guideline value would be Rs 30,80,000, resulting in a stamp duty of Rs 2,15,600 and a registration fee of Rs 61,600, totaling Rs 2,77,200.

Which Sub Registrar Office handles registrations for Gangaiamman Koil Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is crucial for determining the stamp duty and registration fees during property transactions. It ensures that these fees are calculated based on the guideline value or the sale price, whichever is higher, thereby facilitating compliance with local regulations.