Guideline Value for Koil Street (Gandhi Nagar)

Koil Street (Gandhi Nagar) guideline value

The current guideline value of Koil Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Koil Street (Gandhi Nagar) has changed

The guideline value for Koil Street (Gandhi Nagar) has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012, marking a rise of 325%. However, the value decreased to Rs 1,139 per sq.ft in 2017, a drop of 33%. The value then surged to Rs 1,700 per sq.ft in 2023, reflecting a substantial increase of 49%, before reaching the current value of Rs 1,800 per sq.ft in 2024, which is a 6% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 350%. This reflects the fluctuations and changes in value over the years, highlighting the evolving nature of property valuation in this area.

Guideline values in Oragadam

In Oragadam, there are a total of 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the guideline value for Koil Street (Gandhi Nagar) is below this median.

• Koil Cross Street: Rs 1,800 per sq.ft (2024)
• Krishanamachari Street: Rs 1,600 per sq.ft (2024)
• Krishnamenan Street: Rs 1,600 per sq.ft (2024)
• Kesavapillai Koil Street: Rs 1,800 per sq.ft (2024)
• Kennady Street: Rs 2,400 per sq.ft (2024)
• Kulakkarai Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Koil Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, leading to a total of Rs 1,62,000. 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 Koil Street (Gandhi Nagar)?

The Sub Registrar Office that covers Koil Street (Gandhi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial aspect during the registration of property transactions in Oragadam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Koil Street (Gandhi Nagar)?

The current guideline value of Koil Street (Gandhi Nagar) is Rs 1,800 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 1,800 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

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

Other streets in Oragadam include Koil Cross Street at Rs 1,800 per sq.ft, Krishanamachari Street and Krishnamenan Street at Rs 1,600 per sq.ft, Kesavapillai Koil Street at Rs 1,800 per sq.ft, Kennady Street at Rs 2,400 per sq.ft, and Kulakkarai Street at Rs 1,600 per sq.ft.

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

For a property valued at Rs 18,00,000, the stamp duty would be Rs 1,26,000 and the registration fee would be Rs 36,000, totaling Rs 1,62,000.

Which office handles property registrations for Koil Street?

The Ambattur Sub Registrar Office handles property registrations for Koil Street (Gandhi Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.