Guideline Value for Gangai Street

Gangai Street guideline value

The current guideline value of Gangai Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Gangai Street has changed

The guideline value for Gangai Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and now stands at Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Gangai Street in the revisions for the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 267%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Gangai Street.

• Gayathiri Colony ( Gayathiri Nagar ): Rs 2,200 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Godhataraman Street: Rs 880 per sq.ft (2024)
• Gothavari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai 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, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gangai Street?

The Sub Registrar Office that covers Gangai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor when registering properties in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, impacting the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Gangai Street?

The current guideline value of Gangai 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 from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267%.

What is the land classification for Gangai Street?

Gangai Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Gangai Street?

The Tambaram Joint 1 Sub Registrar Office covers Gangai Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Gangai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.