Guideline Value for Gangai Amman Nagar 10th Street

Gangai Amman Nagar 10th Street guideline value

The current guideline value of Gangai Amman Nagar 10th 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 10th Street has changed

The guideline value for Gangai Amman Nagar 10th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, when the value was Rs 147 per sq.ft. This figure increased to Rs 161 per sq.ft in 2003, marking a rise of 10%. The value then saw a significant increase to Rs 300 per sq.ft in 2007, which was an increase of 86%. Following this, the guideline value surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable growth of 567%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a decline of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, showing an increase of 49%, before reaching the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1397%.

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. The median value among these streets is Rs 3,050 per sq.ft, placing Gangai Amman Nagar 10th Street's 2024 figure below that median.

• Gangai Amman Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Amman Nagar 10th Street?

The Gangai Amman Nagar 10th Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gangai Amman Nagar 10th Street?

The current guideline value of Gangai Amman Nagar 10th 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 significantly from Rs 147 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1397% over the years.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft for the 2024 revision, which is higher than the current value of Gangai Amman Nagar 10th Street.

What are the stamp duty and registration fees for property in Gangai Amman Nagar 10th Street?

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

Which Sub Registrar Office covers Gangai Amman Nagar 10th Street?

The Virugambakkam Sub Registrar Office covers Gangai Amman Nagar 10th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.