Guideline Value for GANGAIAMMAN KOIL STREET

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri 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 undergone several revisions over the years. In 2007, the guideline value was set at Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, in 2017, the value decreased to Rs 804 per sq.ft, reflecting a 33% drop. The value then rose again to Rs 1,200 per sq.ft in 2023, a 49% increase from the previous revision.

The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from the 2023 figure. The overall change from 2007 to 2024 shows a substantial increase of 164%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a guideline value range from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that the guideline value for Gangaiamman Koil Street is below this median.

• Gangai Street: Rs 1,650 per sq.ft (2024)
• Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Nagar: Rs 1,320 per sq.ft (2024)
• E.V.P. Prabhu Avenue Extension: Rs 2,200 per sq.ft (2024)
• E.V.P. Prabhu Avenue 9th Street: Rs 1,870 per sq.ft (2024)
• E.V.P. Prabhu Avenue 8th Street: Rs 2,200 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathuvancheri. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, which is higher than the current value of Gangaiamman Koil Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gangaiamman Koil Street located?

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