Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Gangaiamman Koil Street has changed

The guideline value for Gangaiamman Koil Street has undergone several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, the value then decreased to Rs 3,015 per sq.ft in 2017, reflecting a drop of 33%. The subsequent revision in 2023 saw the value increase to Rs 4,500 per sq.ft, followed by the current value of Rs 4,900 per sq.ft in 2024, which is a 9% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which aligns with the current value of Gangaiamman Koil Street.

• Gangai Kondan Salai: Rs 3,300 per sq.ft (2024)
• Ganga Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Ganga Nagar: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 1st Street: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 2nd Street: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 3rd Street: Rs 6,000 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty is calculated at 7%, resulting in Rs 3,43,000, while the registration fee at 2% amounts to Rs 98,000. Therefore, the total cost for these fees together is Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. It is essential to consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What are the stamp duty and registration fees for properties in Gangaiamman Koil Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers this street?

The Ashok Nagar Sub Registrar Office covers Gangaiamman Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gangaiamman Koil Street?

Gangaiamman Koil Street is classified as Residential Class III Type - II.