Guideline Value for Gangaiamman Koil St ( Ward No.7 )

Gangaiamman Koil St ( Ward No.7 ) guideline value

The current guideline value of Gangaiamman Koil St ( Ward No.7 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Gangaiamman Koil St ( Ward No.7 ) has changed

The guideline value for Gangaiamman Koil St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 1,300 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Gangaiamman Koil St ( Ward No.7 ) below this median.

• Gangaiamman Koil St ( Ward No.28 ): 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.7 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to 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, bringing the total fees to Rs 1,17,000. It is important to note that 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 details.

Which Sub Registrar Office covers Gangaiamman Koil St ( Ward No.7 )?

The Sub Registrar Office that covers Gangaiamman Koil St ( Ward No.7 ) 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 is a crucial factor in property transactions in Madhavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil St ( Ward No.7 )?

The current guideline value of Gangaiamman Koil St ( Ward No.7 ) 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 seen several revisions, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. The value decreased from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017 before rising again.

What is the land classification for Gangaiamman Koil St ( Ward No.7 )?

Gangaiamman Koil St ( Ward No.7 ) is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gangaiamman Koil St ( Ward No.7 )?

The Sub Registrar Office for Gangaiamman Koil St ( Ward No.7 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

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