Guideline Value for Gangai Amman Koil West Street

Gangai Amman Koil West Street guideline value

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

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

The guideline value for Gangai Amman Koil West Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and then rose again to the current value of Rs 3,100 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an increase of 11%. 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. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the current value of Gangai Amman Koil West Street.

• Gangai Ammn Koil North Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil South Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil Periya 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, while the registration fee at 2% would be Rs 62,000. Together, the total cost for stamp duty and registration fee would be Rs 2,79,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Amman Koil West Street?

The Sub Registrar Office that covers Gangai Amman Koil West 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 information.

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

The guideline value is an essential factor during property registration in Ramapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the transaction.

Frequently asked questions

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

The current guideline value of Gangai Amman Koil West 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 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

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

Gangai Amman Koil West Street is classified as Residential Class II Type - I.

What are the other streets in Ramapuram with the same guideline value?

Other streets in Ramapuram with the same guideline value of Rs 3,100 per sq.ft include Gangai Ammn Koil North Street, Gangai Amman Koil Street, Gangai Amman Koil South Street, and Gangai Amman Koil Periya Street.

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

The Sub Registrar Office for Gangai Amman Koil West 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.