Guideline Value for Gangai Amman Nagar

Gangai Amman Nagar guideline value

The current guideline value of Gangai Amman Nagar in Chennerkuppam village is Rs 1,430 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur SRO and is classified as Residential Class I Type - III.

How the guideline value of Gangai Amman Nagar has changed

The guideline value for Gangai Amman Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a rise of 333%. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 1,300 per sq.ft in the 2023 revision, followed by a further rise to Rs 1,430 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 377%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Gangai Amman Nagar's 2024 figure below that median.

• D.R.R. Nagar: Rs 1,100 per sq.ft (2024)
• Jayasali Nagar: Rs 1,430 per sq.ft (2024)
• J.D. Nagar: Rs 1,540 per sq.ft (2024)
• Jeevan Prekash Nagar: Rs 1,430 per sq.ft (2024)
• Chinnappa Garden\Nagar: Rs 1,540 per sq.ft (2024)
• Kamarajar Veethi: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Nagar

For a 1,000 sq.ft plot at the current guideline rate of Rs 1,430 per sq.ft, the guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, totaling Rs 1,28,700. It is important to note that 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?

The Sub Registrar Office covering Gangai Amman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chennerkuppam. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, reflecting the current market conditions as assessed by the local authorities. This helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Gangai Amman Nagar?

The current guideline value of Gangai Amman Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 377% over the years.

What are the stamp duty rates for property in Gangai Amman Nagar?

The stamp duty rate for property transactions in Gangai Amman Nagar is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Gangai Amman Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Gangai Amman Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Chennerkuppam?

The median guideline value for streets in Chennerkuppam is Rs 1,540 per sq.ft, with Gangai Amman Nagar's 2024 figure being below this median.