Guideline Value for Gangaiamman Kovil Street (colony)

Gangaiamman Kovil Street (colony) guideline value

The current guideline value of Gangaiamman Kovil Street (colony) is Rs 200 per sq.ft, effective from the 2024 revision. This street is located in Vattampakkam village, under the Sunguvarchattram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Gangaiamman Kovil Street (colony) has changed

Looking at the historical revisions, the guideline value for Gangaiamman Kovil Street (colony) has seen several changes. In the 2012 revision, the value was Rs 200 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from the 2012 figure. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft, a figure that has remained constant through the 2023 and 2024 revisions, showing a 0% change between these two years.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,790 per sq.ft, with a median value of Rs 250 per sq.ft. Gangaiamman Kovil Street (colony)'s 2024 figure is below this median.

• Golden City: Rs 202 per sq.ft (2024)
• Ellaiamman Kovil Street: Rs 200 per sq.ft (2024)
• Indiras New Town: Rs 700 per sq.ft (2024)
• Kalaizhnar Street (colony): Rs 200 per sq.ft (2024)
• Bajanai Kovil Street (colony): Rs 200 per sq.ft (2024)
• Keerthika Avenue: Rs 448 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Kovil Street (colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which would be Rs 14,000, and the registration fee at 2%, amounting to Rs 4,000. Together, the total cost for stamp duty and registration would be Rs 18,000. Please 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 Kovil Street (colony)?

The Sub Registrar Office that covers Gangaiamman Kovil Street (colony) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vattampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value as it affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Gangaiamman Kovil Street (colony)?

The current guideline value of Gangaiamman Kovil Street (colony) is Rs 200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and an increase back to Rs 200 per sq.ft by 2023.

What are the other streets in Vattampakkam with their guideline values?

Other streets in Vattampakkam include Golden City at Rs 202 per sq.ft, Ellaiamman Kovil Street at Rs 200 per sq.ft, and Indiras New Town at Rs 700 per sq.ft, among others.

What fees are associated with buying property in Gangaiamman Kovil Street (colony)?

When buying property, fees include stamp duty at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 18,000.

Where is the Sub Registrar Office for Gangaiamman Kovil Street (colony)?

The Sub Registrar Office for Gangaiamman Kovil Street (colony) is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.