Guideline Value for GENGAN STREET

Gengan Street guideline value

The current guideline value of Gengan Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Gengan Street has changed

The guideline value for Gengan Street has undergone several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase of 36% to reach Rs 500 per sq.ft in 2007. Following this, the value surged by 200% to Rs 1,500 per sq.ft in 2012, before dropping by 33% to Rs 1,005 per sq.ft in 2017. The latest revisions show an increase to Rs 1,500 per sq.ft in 2023, and finally, to Rs 1,600 per sq.ft in 2024, reflecting a 7% rise.

Overall, from 2002 to 2024, the guideline value has increased by 376%. There are no figures available for the years not mentioned in the register for Gengan Street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that Gengan Street's 2024 figure is below this median.

• Gantz Road(A) Ambedkar Road (B&C Mill To Karimeadu): Rs 5,400 per sq.ft (2024)
• Golden Complex (Mkb Nagar): Rs 4,900 per sq.ft (2024)
• Gangadaran Street: Rs 2,200 per sq.ft (2024)
• Gopal Naicken Street: Rs 3,800 per sq.ft (2024)
• Ganesapuram Main Road: Rs 2,200 per sq.ft (2024)
• Ganesapuram 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gengan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Gengan Street?

The Sub Registrar Office that covers Gengan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements.

Understanding the guideline value helps buyers and sellers make informed decisions during property transactions. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gengan Street?

The current guideline value of Gengan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 376% over the years.

What are the other streets in Perambur with their guideline values?

Other streets in Perambur include Gantz Road(A) Ambedkar Road at Rs 5,400 per sq.ft, Golden Complex at Rs 4,900 per sq.ft, and Gangadaran Street at Rs 2,200 per sq.ft, among others.

How is the stamp duty calculated for properties in Gengan Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.

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

The Sub Registrar Office for Gengan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.