Guideline Value for Gangaiyamman Street

Gangaiyamman Street guideline value

The current guideline value of Gangaiyamman Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Gangaiyamman Street has changed

The guideline value for Gangaiyamman Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value rebounded to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,160 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no figures for Gangaiyamman Street in the years 2002 and 2003. The overall change in guideline value from 2007 to 2024 is an increase of 440%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Gangaiyamman Street.

• Gandhi Street: Rs 2,160 per sq.ft (2024)
• Fathima Nagar Extn: Rs 2,200 per sq.ft (2024)
• Gross Street: Rs 2,160 per sq.ft (2024)
• Farthima Nagar: Rs 2,200 per sq.ft (2024)
• English Electric Nagar: Rs 3,300 per sq.ft (2024)
• Harijan Colony: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiyamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangaiyamman Street?

The Gangaiyamman Street is covered by the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when it comes to property transactions in Nemilicherry. 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 both buyers and sellers understand the fair value of the property. It is important to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gangaiyamman Street?

The current guideline value of Gangaiyamman Street is Rs 2,160 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 2,160 per sq.ft in 2024, reflecting an overall increase of 440% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 21,60,000. The stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers Gangaiyamman Street?

The Pallavaram Sub Registrar Office covers Gangaiyamman Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Nemilicherry?

The median guideline value in Nemilicherry is Rs 2,160 per sq.ft, which is the same as the current value for Gangaiyamman Street.