Guideline Value for Gangai Ammn Koil North Street

Gangai Ammn Koil North Street guideline value

The current guideline value of Gangai Ammn Koil North Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gangai Ammn Koil North Street has changed

The guideline value for Gangai Ammn Koil North Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in the 2023 revision, and finally to Rs 3,100 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is the same as the guideline value for Gangai Ammn Koil North Street.

• Gangai Amman Koil West Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil South Street: Rs 3,100 per sq.ft (2024)
• Gangai Amman Koil Periya Street: Rs 3,100 per sq.ft (2024)
• Gangaiya Avenue: Rs 1,950 per sq.ft (2024)
• Giri Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Ammn Koil North Street

For a 1,000 sq.ft plot at the current rate of Rs 3,100 per sq.ft, the guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gangai Ammn Koil North Street?

The Sub Registrar Office that covers Gangai Ammn Koil North Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value serves as a reference point for property transactions in Ramapuram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

During the registration process, the higher value between the guideline value and the sale price is considered for calculating the stamp duty. This ensures that the fees are appropriately aligned with the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Gangai Ammn Koil North Street?

The current guideline value of Gangai Ammn Koil North Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Gangai Ammn Koil North Street?

The land classification for Gangai Ammn Koil North Street is Residential Class II Type - I.

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

The Sub Registrar Office for Gangai Ammn Koil North Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 31,00,000, the stamp duty would be calculated accordingly.