Guideline Value for Gangaikondaanmandappa veethi

Gangaikondaanmandappa veethi guideline value

The current guideline value of Gangaikondaanmandappa veethi is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Gangaikondaanmandappa veethi has changed

The guideline value for Gangaikondaanmandappa veethi has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which significantly increased to Rs 2,500 per sq.ft in 2012, marking a remarkable rise of 1150%. However, this value decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The most recent revisions show a steady increase, with the value rising to Rs 2,500 per sq.ft in 2023 and further to Rs 2,740 per sq.ft in 2024, indicating a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1270%, showcasing significant changes over the years.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft as of 2024. The median value for these streets is Rs 2,200 per sq.ft, placing Gangaikondaanmandappa veethi's current value above this median.

• Gangai nagar: Rs 2,740 per sq.ft (2024)
• Ganga nagar: Rs 2,740 per sq.ft (2024)
• Ganganagar Kalinger Karunanethi Street: Rs 2,740 per sq.ft (2024)
• Ganganagar Main Street: Rs 2,740 per sq.ft (2024)
• Ganga Nagar M.P.C Street: Rs 2,740 per sq.ft (2024)
• Gopalapuram: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaikondaanmandappa veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty is charged at 7%, which equals Rs 1,91,800, and the registration fee at 2% amounts to Rs 54,800. Together, the total cost for stamp duty and registration fee would be Rs 2,46,600. 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 detailed calculations.

Which Sub Registrar Office covers Gangaikondaanmandappa veethi?

The Sub Registrar Office covering Gangaikondaanmandappa veethi is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. To find your specific SRO, you can find your SRO here.

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

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

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall transaction costs. Buyers should consider the guideline value when negotiating the sale price to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gangaikondaanmandappa veethi?

The current guideline value of Gangaikondaanmandappa veethi is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 200 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, which is an overall increase of 1270%.

What is the stamp duty rate for properties in Gangaikondaanmandappa veethi?

The stamp duty rate for properties in Gangaikondaanmandappa veethi is 7% of the guideline value or sale price, whichever is higher.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the median guideline value for streets in Poonthamallee?

The median guideline value for streets in Poonthamallee is Rs 2,200 per sq.ft, with Gangaikondaanmandappa veethi's value being above this median.