Guideline Value for Gangaiamman Koil St ( Ward No.28 )

Gangaiamman Koil St ( Ward No.28 ) guideline value

The current guideline value for Gangaiamman Koil St ( Ward No.28 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Gangaiamman Koil St ( Ward No.28 ) has changed

The guideline value for Gangaiamman Koil St has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from Rs 1,200 per sq.ft in the 2023 revision. Notably, there was no figure available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Looking further back, the guideline value remained at Rs 1,200 per sq.ft from 2012 to 2023, indicating no change during that period. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Gangaiamman Koil St ( Ward No.28 ) is below this median.

• Gangaiamman Koil St ( Ward No.7 ): Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil St, Lakshmipuarm (Ward-27): Rs 1,300 per sq.ft (2024)
• Gangadaran St (Ward-30): Rs 1,300 per sq.ft (2024)
• Ganesh Nagar (Ward No.29): Rs 2,200 per sq.ft (2024)
• Ganesh Nagar, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil St ( Ward No.28 )

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 amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees to 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gangaiamman Koil St ( Ward No.28 )?

The Sub Registrar Office that covers Gangaiamman Koil St ( Ward No.28 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value must be considered to ensure compliance with local regulations and to calculate the financial obligations accurately.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government collects the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value for Gangaiamman Koil St ( Ward No.28 )?

The current guideline value for Gangaiamman Koil St ( Ward No.28 ) 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 increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. There was no change in the value from 2012 to 2023, and overall, the value has increased by 8% from 2012 to 2024.

What is the land classification for Gangaiamman Koil St ( Ward No.28 )?

Gangaiamman Koil St ( Ward No.28 ) is classified as Residential Class III Type - I. This classification indicates the type of development permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.