Guideline Value for Gangai Amman Koil South Street

Gangai Amman Koil South Street guideline value

The current guideline value for Gangai Amman Koil South Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Gangai Amman Koil South Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was a decrease of 33% from Rs 1,876 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,800 per sq.ft, and the latest revision in 2024 raised it to Rs 3,100 per sq.ft, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with the median value being Rs 3,100 per sq.ft. The guideline value for Gangai Amman Koil South Street aligns with this median at Rs 3,100 per sq.ft.

• Gangai Amman Koil Periya Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil West Street: Rs 3,100 per sq.ft (2024)
• Gangai Ammn Koil North Street: Rs 3,100 per sq.ft (2024)
• Gangaiya Avenue: Rs 1,950 per sq.ft (2024)
• Giri Nagar: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty, charged at 7%, would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000. Together, the total cost for these fees would be Rs 2,79,000. 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 Gangai Amman Koil South Street?

The Sub Registrar Office that covers Gangai Amman Koil South 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 Ramapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and provides clarity on the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value for Gangai Amman Koil South Street?

The current guideline value for Gangai Amman Koil South Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2023 to Rs 3,100 per sq.ft in 2024, an increase of 11%. It was Rs 1,876 per sq.ft in 2017 and Rs 2,800 per sq.ft in 2012, showing various fluctuations over the years.

What are the registration fees for property in Gangai Amman Koil South Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 2,79,000.

Which Sub Registrar Office covers this street?

The Chennai South Joint II Sub Registrar Office covers Gangai Amman Koil South Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

The land classification for Gangai Amman Koil South Street is Residential Class II Type - I, indicating its suitability for residential development.