Guideline Value for GANGAPPA STREET

Gangappa Street guideline value

The current guideline value of Gangappa Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Gangappa Street has changed

Over the years, the guideline value of Gangappa Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which changed to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, reflecting a rise of 49%. The most recent 2024 revision has set the value at Rs 1,100 per sq.ft, indicating a 10% increase from the 2023 figure.

It is important to note that the register has no figures for Gangappa Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Gangappa Street's 2024 figure is below this median.

• Gangai Amman Koil Street & Extention: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street Extension: Rs 2,200 per sq.ft (2024)
• GANGAI AMMAN KOIL 1st STREET (SOUTH): Rs 2,200 per sq.ft (2024)
• GANGAI AMMAN KOIL 1st STREET (NORTH): Rs 2,200 per sq.ft (2024)
• G.M.Housing Ltd.,: Rs 1,100 per sq.ft (2024)
• Gajarajan Street Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gangappa Street?

The Sub Registrar Office covering Gangappa 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 Karapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gangappa Street?

The current guideline value of Gangappa Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Gangappa Street?

Gangappa Street is classified as Residential Class III Type - I according to the current guidelines.

Where can I find the Sub Registrar Office for Gangappa Street?

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

How is the stamp duty calculated for properties on Gangappa Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.