Guideline Value for Gangakaveri Circle

Gangakaveri Circle guideline value

The current guideline value of Gangakaveri Circle is Rs 700 per sq.ft, as per the 2023 revision. This area falls under Vengadamangalam village and is registered with the Gooduvancheri SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Gangakaveri Circle has changed

The guideline value has seen several revisions over the years. In the 2007 revision, the value was Rs 160 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a rise of 338%. However, between 2012 and 2017, the value decreased to Rs 469 per sq.ft, reflecting a drop of 33%. The latest revision in 2023 has set the value back to Rs 700 per sq.ft, indicating an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 338%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific village figures provided for Vengadamangalam. Gangakaveri Circle is one of the streets in this area, and there are no other streets in Vengadamangalam under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in Gangakaveri Circle

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost for stamp duty and registration fee would be Rs 63,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangakaveri Circle?

The Gangakaveri Circle is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengadamangalam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is sold, the guideline value is used to determine the applicable taxes. Buyers should be aware that the stamp duty is charged based on the higher amount between the guideline value and the sale price, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Gangakaveri Circle?

The current guideline value of Gangakaveri Circle is Rs 700 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and finally returned to Rs 700 per sq.ft in 2023.

What is the land classification for Gangakaveri Circle?

The land classification for Gangakaveri Circle is Residential Special Type - I, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Gangakaveri Circle?

Stamp duty for properties in Gangakaveri Circle is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.