Guideline Value for Gangaiamman Koil 1st Street

Gangaiamman Koil 1st Street guideline value

The current guideline value for Gangaiamman Koil 1st Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gangaiamman Koil 1st Street has changed

In the 2012 revision, the guideline value was Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 603 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 900 per sq.ft in the 2023 revision, and further rose to Rs 950 per sq.ft in the 2024 revision, reflecting a 6% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the 2024 figure for Gangaiamman Koil 1st Street below this median.

• Gangaiamman Koil 2nd Street: Rs 950 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 950 per sq.ft (2024)
• Gayathri Nagar: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total to Rs 85,500. 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 information.

Which Sub Registrar Office covers Gangaiamman Koil 1st Street?

The Sub Registrar Office covering Gangaiamman Koil 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Chembakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. The guideline value ensures that the property is registered at a fair price, reflecting the current market standards in the area.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil 1st Street?

The current guideline value of Gangaiamman Koil 1st Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification for Gangaiamman Koil 1st Street?

The land classification for Gangaiamman Koil 1st Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which office handles registrations for Gangaiamman Koil 1st Street?

The Selaiyur Sub Registrar Office handles registrations for Gangaiamman Koil 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.