Guideline Value for Gangai Amman Nagar 12th Street

Gangai Amman Nagar 12th Street guideline value

The current guideline value for Gangai Amman Nagar 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Gangai Amman Nagar 12th Street has changed

The guideline value for Gangai Amman Nagar 12th 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, marking a 10% rise. The value then saw a significant jump to Rs 300 per sq.ft in 2007, a change of 86%. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a 567% increase. However, from 2012 to 2017, the guideline value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,200 per sq.ft in 2024, a 10% rise.

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

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 for these streets is Rs 3,050 per sq.ft, placing Gangai Amman Nagar 12th Street's 2024 figure below that median.

• Gangai Amman Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 10th 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 12th 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 to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gangai Amman Nagar 12th Street?

The Sub Registrar Office that covers Gangai Amman Nagar 12th 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 the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, 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 transaction reflects a fair value for taxation purposes.

Frequently asked questions

What is the current guideline value for Gangai Amman Nagar 12th Street?

The current guideline value for Gangai Amman Nagar 12th 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 several times, starting from Rs 147 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1397%.

What is the land classification for Gangai Amman Nagar 12th Street?

The land classification for Gangai Amman Nagar 12th Street is Residential Class V Type - I.

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

The Sub Registrar Office for Gangai Amman Nagar 12th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.