Guideline Value for Gangaiamman Koil Street

Gangaiamman Koil Street guideline value

The current guideline value of Gangaiamman Koil Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gangaiamman Koil Street has changed

The guideline value for Gangaiamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 450 per sq.ft. This value increased to Rs 900 per sq.ft in 2012, marking a 100% increase. However, it then decreased to Rs 603 per sq.ft in 2017, reflecting a decline of 33%. The value saw a significant rise to Rs 900 per sq.ft in 2023, and as of 2024, it stands at Rs 950 per sq.ft, which is a 6% increase from the previous year.

In summary, the changes in the guideline value from 2007 to 2024 show an overall increase of 111%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Gangaiamman Koil Street's 2024 figure is below that median.

• Gangaiamman Koil 2nd Street: Rs 950 per sq.ft (2024)
• Gangaiamman Koil 1st Street: Rs 950 per sq.ft (2024)
• Gayathri Nagar: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 2nd Cross Street: Rs 2,400 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total cost for these fees to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gangaiamman Koil Street?

The Sub Registrar Office that covers Gangaiamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Chembakkam. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and in compliance with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. This value is updated periodically, reflecting changes in the market and property trends.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, showing an overall increase of 111% over the years.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam with similar guideline values include Gangaiamman Koil 1st Street and Gangaiamman Koil 2nd Street, both at Rs 950 per sq.ft for 2024.

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

For a property valued at Rs 9,50,000, the stamp duty is Rs 66,500 and the registration fee is Rs 19,000, totaling Rs 85,500 for a 1,000 sq.ft plot.

Where can I find the Sub Registrar Office for Gangaiamman Koil Street?

The Sub Registrar Office for Gangaiamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.