Guideline Value for Gangai Kavery Street

Gangai Kavery Street guideline value

The current guideline value of Gangai Kavery Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gangai Kavery Street has changed

The guideline value register has no figures for Gangai Kavery Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 1,650 per sq.ft.

There have been no changes in the guideline value for Gangai Kavery Street between the revisions listed above. The only figure available is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Gangai Kavery Street's 2024 figure below that median.

• Gangai Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Ganga Kaveri Street SRVS: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar/Ramamurthy Nagar: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar Cross Street: Rs 2,750 per sq.ft (2024)
• Ganesh Nagar 9th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Kavery Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Kavery Street?

The Sub Registrar Office that covers Gangai Kavery Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions as per the government regulations. This ensures transparency and compliance with the legal requirements for property transactions.

Frequently asked questions

What is the current guideline value of Gangai Kavery Street?

The current guideline value of Gangai Kavery Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

Have there been any changes in the guideline value for Gangai Kavery Street?

There have been no changes in the guideline value for Gangai Kavery Street between the revisions listed in the register. The only figure available is from the 2024 revision.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current guideline value of Gangai Kavery Street.

What are the stamp duty and registration fees for property in Gangai Kavery Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Gangai Kavery Street?

The Velacheri Sub Registrar Office handles the registration for Gangai Kavery Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.