Guideline Value for Gangai Amman Koil Street

Gangai Amman Koil Street guideline value

The current guideline value of Gangai Amman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Gangai Amman Koil Street has changed

The guideline value register for Gangai Amman Koil Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only figure currently available is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no figures available for the previous revisions, we can only confirm that the 2024 figure is the first recorded value for this street in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,750 per sq.ft, placing Gangai Amman Koil Street's 2024 figure below that median.

• Gangai Kavery Street: Rs 1,650 per sq.ft (2024)
• Ganesh Nagar/Ramamurthy Nagar: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar Cross Street: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Ganga Kaveri Street SRVS: Rs 2,750 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please 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 more detailed calculations.

Which Sub Registrar Office covers Gangai Amman Koil Street?

The Sub Registrar Office that covers Gangai Amman Koil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the registration fees reflect the true value of the property being transacted.

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 2,200 per sq.ft, effective from 1 July 2024.

What are the previous guideline values for Gangai Amman Koil Street?

The register shows no figures for Gangai Amman Koil Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

How does Gangai Amman Koil Street's guideline value compare to other streets in Madipakkam-1?

The guideline value of Gangai Amman Koil Street at Rs 2,200 per sq.ft is below the median value of Rs 2,750 per sq.ft in Madipakkam-1. Other streets in the area have varying guideline values, with some streets priced higher.

What is the stamp duty rate for properties in Gangai Amman Koil Street?

The stamp duty rate for properties in Gangai Amman Koil Street is 7% of the guideline value or the sale price, whichever is higher. This is a standard rate applicable across the region.

Where can I find the Sub Registrar Office for Gangai Amman Koil Street?

The Velacheri Sub Registrar Office covers Gangai Amman Koil Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.