Guideline Value for Gangai Amman Nagar 11th Street

Gangai Amman Nagar 11th Street guideline value

The current guideline value of Gangai Amman Nagar 11th 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 falls under the Residential Class V Type - I land classification.

How the guideline value of Gangai Amman Nagar 11th Street has changed

The guideline value for Gangai Amman Nagar 11th Street has seen several revisions over the years. The earliest recorded figure is Rs 147 per sq.ft in 2002, 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 further increased to Rs 2,000 per sq.ft in 2012. However, there was a decline to Rs 1,340 per sq.ft in 2017. The value then rose again 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 2003, the increase was +10%. The jump from 2003 to 2007 was +86%, followed by a substantial rise of +567% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. A significant increase of +49% occurred from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, the guideline value has increased by +1397% from 2002 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 for Gangai Amman Nagar 11th Street is below this median.

• Gangai Amman Nagar 10th 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 11th 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Amman Nagar 11th Street?

The Sub Registrar Office that covers Gangai Amman Nagar 11th 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 plays a crucial role when buying or selling property in Maduravoyal. It is used to determine the amount of stamp duty and registration fees that must be paid during the registration process. Buyers and sellers need to be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the sale price is compared to the guideline value, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value of Gangai Amman Nagar 11th Street?

The current guideline value of Gangai Amman Nagar 11th 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 are the stamp duty and registration fees for properties 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.

Which office handles property registrations for Gangai Amman Nagar 11th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Gangai Amman Nagar 11th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Maduravoyal?

The guideline value is determined based on various factors and is revised periodically by the Registration Department. It serves as a basis for calculating stamp duty and registration fees during property transactions.