Guideline Value for Gangannan Street

Gangannan Street guideline value

The current guideline value of Gangannan Street in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Gangannan Street has changed

The guideline value for Gangannan Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% rise. However, the 2017 revision saw a decrease to Rs 804 per sq.ft, a drop of 33%. The value then rose sharply to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% change.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. The register has no figures for Gangannan Street in 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, positioning Gangannan Street's 2024 value below that median.

• Gangannan East Street: Rs 1,300 per sq.ft (2024)
• Gangamman Koil Street(North-South): Rs 1,300 per sq.ft (2024)
• Gangamman Koil Street(East-West): Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Glatier Eagappan Street: Rs 1,300 per sq.ft (2024)
• Goldsmith Tank Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that 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 details.

Which Sub Registrar Office covers Gangannan Street?

The Sub Registrar Office covering Gangannan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gangannan Street?

The current guideline value of Gangannan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What are the other streets in Tondaiarpet with the same guideline value?

Several other streets in Tondaiarpet also have a guideline value of Rs 1,300 per sq.ft, including Gangannan East Street, Gangamman Koil Street (North-South), Gangamman Koil Street (East-West), and Gangaiamman Koil Street.

What are the stamp duty and registration fees for properties in Gangannan Street?

For a property valued at Rs 1,300 per sq.ft, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000 for a 1,000 sq.ft plot.

Where is the Sub Registrar Office for Gangannan Street located?

The Sub Registrar Office for Gangannan Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.