Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street in Palavayal village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Gangaiamman Koil Street has changed

The guideline value for Gangaiamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,200 per sq.ft, with the median value being Rs 440 per sq.ft. Gangaiamman Koil Street's 2024 figure is equal to this median.

• Gomathiamman Nagar Annex XIII: Rs 440 per sq.ft (2024)
• Iswaryam Nagar: Rs 440 per sq.ft (2024)
• Kaavya Garden Annex: Rs 440 per sq.ft (2024)
• Kumaran Nagar Part V: Rs 440 per sq.ft (2024)
• Meenakshi Nagar: Rs 880 per sq.ft (2024)
• New Star City-1: Rs 700 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 rate of Rs 440 per sq.ft, the guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 further calculations.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Palavayal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees based on the higher value between the guideline value and the sale price. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft in 2024.

What is the land classification for Gangaiamman Koil Street?

Gangaiamman Koil Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. An example for a 1,000 sq.ft plot shows a total of Rs 39,600 in fees.

Where is the Sub Registrar Office for Gangaiamman Koil Street located?

The Sub Registrar Office covering Gangaiamman Koil Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.