Guideline Value for GENGAIAMMAN KOIL STREET

Gengaiamman Koil Street guideline value

The current guideline value of Gengaiamman Koil Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Gengaiamman Koil Street has changed

The guideline value for Gengaiamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 71%, raising the value to Rs 800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 850 per sq.ft, marking a 6% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 21%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, which means Gengaiamman Koil Street's 2024 figure is below that median.

• Global Avenue: Rs 3,800 per sq.ft (2024)
• Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Gokul Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Gokul Nagar 40 Feet Road: Rs 3,300 per sq.ft (2024)
• Golden Castle: Rs 2,725 per sq.ft (2024)
• Gandhi Nagar Society: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Gengaiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total to Rs 76,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gengaiamman Koil Street?

The Sub Registrar Office that covers Gengaiamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perumbakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers need to consider this value when negotiating sale prices, as the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

When selling property, the guideline value helps establish a fair price for the transaction. It ensures that the government receives the appropriate revenue from stamp duty and registration fees, which are essential for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value of Gengaiamman Koil Street?

The current guideline value of Gengaiamman Koil Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the land classification for Gengaiamman Koil Street?

The land classification for Gengaiamman Koil Street is Residential Class V Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Gengaiamman Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.