Guideline Value for GANGAIAMMAN NAGAR /KOIL STREET

Gangaiamman Nagar /Koil Street guideline value

The current guideline value of Gangaiamman Nagar /Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Gangaiamman Nagar /Koil Street has changed

The guideline value for Gangaiamman Nagar /Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 87 per sq.ft, which increased to Rs 110 per sq.ft in 2003, marking a 26% rise. The value then saw a significant jump to Rs 300 per sq.ft in 2007, representing a 173% increase. Following this, the value surged to Rs 2,200 per sq.ft in 2012, a remarkable increase of 633%. However, it dropped to Rs 1,474 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 2,200 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, which is a 10% increase from the previous year. The register has no figure for this street in the years not mentioned.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value for these streets is Rs 3,190 per sq.ft, placing Gangaiamman Nagar /Koil Street's 2024 figure below this median.

• Ganga Enclave: Rs 2,420 per sq.ft (2024)
• Grand Vista: Rs 4,300 per sq.ft (2024)
• Janardhanam Street: Rs 3,190 per sq.ft (2024)
• Jayachandran Street: Rs 3,190 per sq.ft (2024)
• Devadoss Street: Rs 3,190 per sq.ft (2024)
• Bbcl Villa Haven: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Nagar /Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total charges together to Rs 2,17,800. 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 Nagar /Koil Street?

The Sub Registrar Office that covers Gangaiamman Nagar /Koil Street is the Chennai South Joint II 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 Perumalagaram

The guideline value is crucial during property transactions in Perumalagaram, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Gangaiamman Nagar /Koil Street?

The current guideline value of Gangaiamman Nagar /Koil Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 87 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 2,682% over the years.

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

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400, and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office handles registrations for this street?

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

How is the guideline value determined for properties in Perumalagaram?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the real estate market.