Guideline Value for Gangai Amman Nagar 13th Street

Gangai Amman Nagar 13th Street guideline value

The current guideline value of Gangai Amman Nagar 13th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Gangai Amman Nagar 13th Street has changed

The guideline value for Gangai Amman Nagar 13th Street has seen significant changes over the years. In 2002, the guideline value was Rs 147 per sq.ft. This increased to Rs 161 per sq.ft in 2003, marking a 10% rise. The value then surged dramatically to Rs 300 per sq.ft in 2007, reflecting an 86% increase. Following this, the value rose to Rs 2,000 per sq.ft in 2012, representing a substantial 567% jump. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by a remarkable 1397%. There are no figures in the register for the years not mentioned above.

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 13th Street is below this median.

• Gangai Amman Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Gangai Amman Nagar 10th Street: 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 13th 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, while the registration fee at 2% would be Rs 44,000. Together, these fees would total 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.

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

Which Sub Registrar Office covers Gangai Amman Nagar 13th Street?

The Gangai Amman Nagar 13th Street is covered by 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 crucial during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate fees are collected based on this value. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Gangai Amman Nagar 13th Street?

The current guideline value of Gangai Amman Nagar 13th 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 land classification for Gangai Amman Nagar 13th Street?

The land classification for Gangai Amman Nagar 13th Street is Residential Class V Type - I.

Which Sub Registrar Office is responsible for this street?

The Virugambakkam Sub Registrar Office covers Gangai Amman Nagar 13th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.