Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO and is classified as Residential Class III 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 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, this value decreased to Rs 1,005 per sq.ft in the 2017 revision, representing a 33% drop. The value then rose to Rs 1,500 per sq.ft in the 2023 revision, and most recently, it increased to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available in the register for the years 2002 and 2003 regarding Gangaiamman Koil Street. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Gangaiamman Koil Street's 2024 figure is below this median.

• Ganesh Nagar: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar: Rs 3,850 per sq.ft (2024)
• Gandhi Street: Rs 2,970 per sq.ft (2024)
• Gayathri Nagar East Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar North Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar South Street: Rs 3,850 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 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, under the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of 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 1,650 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 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram for 2024 is Rs 2,970 per sq.ft, with Gangaiamman Koil Street's value below this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

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

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.