Guideline Value for GANGAIAMMAN KOIL STREET

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street in Uthandi village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Gangaiamman Koil Street has changed

The guideline value for Gangaiamman Koil Street has seen several revisions over the years. Starting from Rs 310 per sq.ft in 2003, it increased to Rs 1,000 per sq.ft in 2007. The value then rose significantly to Rs 2,500 per sq.ft in 2012, but saw a decline to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 brought it back up to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,800 per sq.ft.

In terms of percentage changes, the increase from 2023 to 2024 was +12%. From 2017 to 2023, the value increased by +49%. However, the value dropped by -33% from 2012 to 2017. A notable rise of +150% occurred from 2007 to 2012, and from 2003 to 2007, there was a significant increase of +223%. Overall, from 2003 to 2024, the guideline value has increased by +803%. The register has no figure for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Gangaiamman Koil Street's 2024 figure of Rs 2,800 per sq.ft is above this median.

• Gangaiamman Koil Street (Colony): Rs 2,800 per sq.ft (2024)
• Gayathri Garden: Rs 1,100 per sq.ft (2024)
• Gnanasekaran Thottam: Rs 1,700 per sq.ft (2024)
• Govind Ram Garden: Rs 1,100 per sq.ft (2024)
• Gowri Chandran Garden: Rs 1,100 per sq.ft (2024)
• Grp Avenue: Rs 1,100 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees together Rs 2,52,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Uthandi, as it is used to determine the stamp duty and registration fees payable during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the necessary fees.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both buyers and sellers. It helps in maintaining transparency in property dealings and provides a basis for taxation related to real estate transactions.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 2,800 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 310 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +803% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,52,000, which includes stamp duty and registration fees based on the guideline value.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Neelankarai Sub Registrar Office covers Gangaiamman Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Gangaiamman Koil Street?

Gangaiamman Koil Street is classified as Residential Class I Type - II, indicating its suitability for residential development.