Guideline Value for Gangai Amman Koil Main Street

Gangai Amman Koil Main Street guideline value

The current guideline value of Gangai Amman Koil Main Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Gangai Amman Koil Main Street has changed

The guideline value for Gangai Amman Koil Main Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,500 per sq.ft. The most recent revision in 2024 saw a further increase to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Gangai Amman Koil Main Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the guideline value for Gangai Amman Koil Main Street is below this median.

• Gangai Amman Koil 2nd Street: Rs 3,850 per sq.ft (2024)
• Gangai Amman Koil 1st Street: Rs 3,850 per sq.ft (2024)
• Gangai Amman Kovil Street, Ganapathy Nagar: Rs 13,200 per sq.ft (2024)
• Gangai Nagar 100 Ft Bye Pass Road: Rs 13,200 per sq.ft (2024)
• Gangai Nagar 100ft Road: Rs 13,200 per sq.ft (2024)
• Gangai Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Koil Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gangai Amman Koil Main Street?

The Sub Registrar Office that covers Gangai Amman Koil Main Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit this link.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Gangai Amman Koil Main Street?

The current guideline value of Gangai Amman Koil Main Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017, which was a 49% increase from the previous revision in 2012.

What is the land classification for Gangai Amman Koil Main Street?

The land classification for Gangai Amman Koil Main Street is Residential Class II Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Gangai Amman Koil Main Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Velachery?

The median guideline value in Velachery for 2024 is Rs 4,400 per sq.ft, which means that Gangai Amman Koil Main Street's value is below this median.