Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

The current guideline value for Gangaiamman Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam 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 earliest recorded figure is from 2002, where the value was Rs 358 per sq.ft. This increased to Rs 391 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 550 per sq.ft in 2007, reflecting a +41% increase. Following this, there was a substantial jump to Rs 4,500 per sq.ft in 2012, which represented an increase of +718%. However, the value decreased to Rs 3,015 per sq.ft in 2017, showing a decline of -33%. The value then rose again to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1283%. The register has no figure for the years between 2012 and 2017.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for the village is Rs 4,400 per sq.ft, which means Gangaiamman Koil Street's current value is above this median.

• Gangadharan Street: Rs 4,950 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - V.O.C. Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Vivekanandan Street: Rs 4,950 per sq.ft (2024)
• Gandhi Nagar - Thiruvalluvar Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Singaravelar Street: Rs 4,400 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 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Therefore, the total cost for stamp duty and registration fees would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is documented accurately and that the appropriate fees are collected based on the established rates. This process is essential for maintaining transparency and compliance within the real estate market.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

The current guideline value of Gangaiamman Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 358 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of +1283% over the years.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Virugambakkam Sub Registrar Office covers Gangaiamman Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Saligramam?

The median guideline value in Saligramam is Rs 4,400 per sq.ft, with Gangaiamman Koil Street's current value being above this median.