Guideline Value for Gangai Amman Nagar 3rd Street

Gangai Amman Nagar 3rd Street guideline value

The current guideline value of Gangai Amman Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of Gangai Amman Nagar 3rd Street has changed

The guideline value for Gangai Amman Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 147 per sq.ft, which increased to Rs 161 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2024, the overall increase is +1397%. Specifically, the change from 2017 to 2023 was +49%, while the value decreased by -33% from 2012 to 2017. The increase from 2007 to 2012 was +567%, and from 2003 to 2007, it was +86%. Additionally, the value rose by +10% from 2023 to 2024.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Gangai Amman Nagar 3rd Street is below this median.

• Gangai Amman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Amman Nagar 3rd Street?

The Sub Registrar Office that covers Gangai Amman Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees during the sale process.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the transaction.

Frequently asked questions

What is the current guideline value of Gangai Amman Nagar 3rd Street?

The current guideline value of Gangai Amman Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 147 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of +1397% over the years.

What is the land classification for Gangai Amman Nagar 3rd Street?

Gangai Amman Nagar 3rd Street is classified under Residential Class V Type - I.

Which office handles property registrations for Gangai Amman Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles property registrations for Gangai Amman Nagar 3rd Street.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.