Guideline Value for Gangai Amman Koil Street

Gangai Amman Koil Street guideline value

The current guideline value of Gangai Amman Koil Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Mepur village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Gangai Amman Koil Street has changed

The guideline value for Gangai Amman Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, this figure dropped to Rs 469 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 700 per sq.ft, followed by a further rise to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 71%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mepur

In Mepur village, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,955 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the current guideline value for Gangai Amman Koil Street.

• Golden City: Rs 770 per sq.ft (2024)
• Dr Koushik Enclave: Rs 1,480 per sq.ft (2024)
• Chozhan Nagar: Rs 770 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)
• Madheena Garden: Rs 820 per sq.ft (2024)
• Andalkuppam (Pillayar Koil St): Rs 770 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. It is important to note that the 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Gangai Amman Koil Street?

The Sub Registrar Office that covers Gangai Amman Koil Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

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

The current guideline value of Gangai Amman Koil Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking a total increase of 71% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations in Mepur?

The Kunrathur Sub Registrar Office handles property registrations in Mepur, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration and affects the calculation of stamp duty and registration fees during property transactions.