Guideline Value for Gangai Amman Koil Street

Gangai Amman Koil Street guideline value

The current guideline value of Gangai Amman Koil Street is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Theerthangiriyampattu village and falls under the Redhills SRO. The land classification for this area is Residential Class III 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. In 2002, the value was Rs 284 per sq.ft, which decreased to Rs 30 per sq.ft in 2003. Following this, the value increased significantly to Rs 100 per sq.ft in 2007, and then rose dramatically to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017 before increasing again to Rs 300 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 330 per sq.ft.

In terms of percentage changes, from 2002 to 2003, there was a decrease of 89%. The value then increased by 233% from 2003 to 2007, followed by a 200% increase from 2007 to 2012. From 2012 to 2017, the value decreased by 33%, but it increased by 49% from 2017 to 2023. The current revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 16%.

Guideline values in Theerthangiriyampattu

Theerthangiriyampattu village has 24 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft, with a median value of Rs 605 per sq.ft. The guideline value of Gangai Amman Koil Street is below this median.

• Gandhi Street: Rs 770 per sq.ft (2024)
• Cheran Street: Rs 770 per sq.ft (2024)
• Kamarajar Street: Rs 770 per sq.ft (2024)
• Kannappar Street: Rs 770 per sq.ft (2024)
• Karunanidhi Street: Rs 605 per sq.ft (2024)
• Bajanai Koil Street: 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total cost for these fees Rs 29,700. 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 Street?

The Sub Registrar Office that covers Gangai Amman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Theerthangiriyampattu. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 284 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, with various increases and decreases in between.

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

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers Gangai Amman Koil Street?

The Redhills Sub Registrar Office covers Gangai Amman Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Gangai Amman Koil Street?

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