Guideline Value for Gangai Street(ICF)

Gangai Street(ICF) guideline value

The current guideline value of Gangai Street(ICF) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Gangai Street(ICF) has changed

The guideline value for Gangai Street(ICF) has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,474 per sq.ft. This increased to Rs 2,200 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 63%.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Gangai Street(ICF) above this median.

• Godavari Street(ICF): Rs 2,400 per sq.ft (2024)
• Gandhi Street (Chelliamman Nagar): Rs 2,200 per sq.ft (2024)
• I.C.F.Employees Colony: Rs 2,400 per sq.ft (2024)
• Elango Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Eden Villas: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Street(ICF)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Street(ICF)?

The Sub Registrar Office that covers Gangai Street(ICF) is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value plays a crucial role in the registration process when buying or selling property in 5. Athipattu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the guideline value is considered as the minimum value for the transaction. This ensures that the government receives the appropriate fees based on the established guideline values rather than the sale price alone.

Frequently asked questions

What is the current guideline value of Gangai Street(ICF)?

The current guideline value of Gangai Street(ICF) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,474 per sq.ft in 2017 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 63%.

What is the registration office for Gangai Street(ICF)?

The registration office for Gangai Street(ICF) is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What are the stamp duty rates applicable in Gangai Street(ICF)?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

How does the guideline value affect property transactions in 5. Athipattu?

The guideline value is used to determine the stamp duty and registration fees during property transactions in 5. Athipattu. It serves as the minimum value for the property, ensuring that the correct fees are collected by the government.