Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gangaiamman Koil Street has changed

The guideline value for Gangaiamman Koil Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The next revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, followed by another rise to Rs 1,300 per sq.ft in 2024, an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Gangaiamman Koil Street is below this median.

• Gangamman Koil Street (East-West): Rs 1,300 per sq.ft (2024)
• Gangamman Koil Street (North-South): Rs 1,300 per sq.ft (2024)
• Gangannan East Street: Rs 1,300 per sq.ft (2024)
• Gangannan Street: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Glatier Eagappan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total amount Rs 1,17,000. 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 more detailed calculations.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 1,300 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 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What is the stamp duty for properties on Gangaiamman Koil Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

Which office handles the registration of properties in Tondaiarpet?

The Royapuram Sub Registrar Office handles the registration of properties in Tondaiarpet. It is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Gangaiamman Koil Street?

The land classification for Gangaiamman Koil Street is Residential Class II Type - I, indicating its designated use for residential purposes.