Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

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

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 the 2007 revision, the value was set at Rs 300 per sq.ft, which then increased to Rs 400 per sq.ft in the 2012 revision. Following this, the value decreased to Rs 268 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 400 per sq.ft, and the latest revision in 2024 has further increased it to Rs 440 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. There was a 33% increase from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value is Rs 440 per sq.ft, which aligns with the 2024 guideline value for Gangaiamman Koil Street.

• Grish Blue Diamond: Rs 825 per sq.ft (2024)
• Elshdoy Avenue: Rs 440 per sq.ft (2024)
• Bajanai Koil Street: Rs 440 per sq.ft (2024)
• Azhagathamman Nagar 2nd Street: Rs 440 per sq.ft (2024)
• Azhagathamman Nagar 1st Street: Rs 440 per sq.ft (2024)
• Madha Koil Street: Rs 330 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 amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to 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 more details.

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 Siruniyam

The guideline value is a crucial factor during the registration of property in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 47% over this period.

What is the land classification for Gangaiamman Koil Street?

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

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

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 39,600, based on the current guideline value of Rs 4,40,000.

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

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