Guideline Value for SOUTH GANGAIAMMAN KOIL 2ND LANE, CHOOLAIMEDU

South Gangaiamman Koil 2nd Lane, Choolaimedu guideline value

The current guideline value of South Gangaiamman Koil 2nd Lane, Choolaimedu is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO, with a land classification of Residential Class I Type - I.

How the guideline value of South Gangaiamman Koil 2nd Lane, Choolaimedu has changed

The guideline value for South Gangaiamman Koil 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 1,400 per sq.ft, which increased significantly to Rs 5,300 per sq.ft in 2012. However, it then decreased to Rs 3,551 per sq.ft in 2017. The value rose again to Rs 5,300 per sq.ft in 2023, and currently stands at Rs 5,800 per sq.ft as per the 2024 revision. There are no figures available for the years 2002 and 2003 for this street.

Between the revisions, notable changes include a 279% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value saw a significant rise of 49% from 2017 to 2023, and a further increase of 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 314%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which is equal to the current guideline value of South Gangaiamman Koil 2nd Lane.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty, charged at 7%, would amount to Rs 4,06,000, while the registration fee at 2% would be Rs 1,16,000. Together, the total cost for duty and registration would be Rs 5,22,000. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers South Gangaiamman Koil 2nd Lane, Choolaimedu?

The South Gangaiamman Koil 2nd Lane, Choolaimedu falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of South Gangaiamman Koil 2nd Lane, Choolaimedu?

The current guideline value of South Gangaiamman Koil 2nd 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, showing an overall increase of 314% over this period.

What is the land classification for South Gangaiamman Koil 2nd Lane?

The land classification for South Gangaiamman Koil 2nd Lane is Residential Class I Type - I.

Which Sub Registrar Office covers this area?

The Kodambakkam Sub Registrar Office covers South Gangaiamman Koil 2nd Lane, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 58,00,000 would incur a stamp duty of Rs 4,06,000 at a rate of 7%.