Guideline Value for SOUTH GANGAIAMMAN KOIL 1ST LANE, CHOOLAIMEDU

South Gangaiamman Koil 1st Lane, Choolaimedu guideline value

The current guideline value of South Gangaiamman Koil 1st Lane, Choolaimedu is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of South Gangaiamman Koil 1st Lane, Choolaimedu has changed

The guideline value has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 1,400 per sq.ft. This increased significantly to Rs 5,300 per sq.ft in 2012, but then saw a decrease to Rs 3,551 per sq.ft in 2017. Following this, the value rose to Rs 5,300 per sq.ft in 2023, and has now reached Rs 5,800 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 314%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, which is the same as the current value for South Gangaiamman Koil 1st Lane.

• South Gangaiamman Koil 1st Cross Street, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 1st Street, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 2nd Lane, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Mada Street: Rs 5,300 per sq.ft (2024)
• Sornambigai Street: Rs 3,800 per sq.ft (2024)
• South Sivan Koil Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in South Gangaiamman Koil 1st Lane, Choolaimedu

For a 1,000 sq.ft plot at the current rate of Rs 5,800 per sq.ft, the guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, totaling Rs 5,22,000. 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 South Gangaiamman Koil 1st Lane, Choolaimedu?

The Sub Registrar Office that covers South Gangaiamman Koil 1st Lane, Choolaimedu is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Puliyur. 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.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the total expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of South Gangaiamman Koil 1st Lane, Choolaimedu?

The current guideline value of South Gangaiamman Koil 1st Lane, Choolaimedu is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 314% over the years.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for South Gangaiamman Koil 1st Lane, Choolaimedu is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate the stamp duty and registration fees payable during property transactions.