Guideline Value for Gangaiamman Koil St, Lakshmipuarm (Ward-27)

Gangaiamman Koil St, Lakshmipuarm (Ward-27) guideline value

The current guideline value of Gangaiamman Koil St, Lakshmipuarm (Ward-27) 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, Lakshmipuarm (Ward-27) has changed

The guideline value for Gangaiamman Koil St has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

It is important to note that there are no recorded figures for Gangaiamman Koil St in the revisions of 2002, 2003, and 2007. 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. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Gangaiamman Koil St is below this median.

• Gangaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil St ( Ward No.28 ): Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil St ( Ward No.7 ): 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, Lakshmipuarm (Ward-27)

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, and the registration fee at 2% would be Rs 26,000, bringing the total 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gangaiamman Koil St, Lakshmipuarm (Ward-27)?

The Sub Registrar Office that covers Gangaiamman Koil St, Lakshmipuarm (Ward-27) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil St, Lakshmipuarm (Ward-27)?

The current guideline value of Gangaiamman Koil St, Lakshmipuarm (Ward-27) 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Gangaiamman Koil St, Lakshmipuarm (Ward-27)?

Gangaiamman Koil St, Lakshmipuarm (Ward-27) is classified as Residential Class III Type - I.

Where can I find the registration office for properties in Madhavaram?

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

How is stamp duty calculated for properties in Madhavaram?

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