Guideline Value for GANGAIAMMAN KOIL STREET

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Gangaiamman Koil Street has changed

Over the years, the guideline value of Gangaiamman Koil Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased to Rs 4,000 per sq.ft in the 2023 revision, and currently stands at Rs 4,400 per sq.ft as per the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gangaiamman Koil Street's current value above this median.

• GANGAIAMMAN KOIL STREET (Malai Road): Rs 4,400 per sq.ft (2024)
• Garden City: Rs 2,200 per sq.ft (2024)
• Garden City Elite: Rs 2,200 per sq.ft (2024)
• Gandhi Salai (A) Mettu Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai: Rs 4,400 per sq.ft (2024)
• G.S.T.Salai: Rs 3,850 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Chengalpattu Natham. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable on the transaction. This ensures that the fees are calculated based on a standardized value set by the registration department.

During registration, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. Additionally, it rose from Rs 2,680 per sq.ft in 2017 to Rs 4,000 per sq.ft in 2023, showing a 49% increase.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Gangaiamman Koil Street?

The registration for Gangaiamman Koil Street is handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Gangaiamman Koil Street?

The land classification for Gangaiamman Koil Street is Mixed Special Type - II, which indicates the type of development permissible in the area.