Guideline Value for WEST GANGAIAMMAN KOIL STREET

West Gangaiamman Koil Street guideline value

The current guideline value of West Gangaiamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of West Gangaiamman Koil Street has changed

The guideline value for West Gangaiamman Koil Street has undergone several revisions over the years. In 2003, the guideline value was Rs 310 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a significant rise of 61%. The value then surged dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 300% increase. However, it decreased by 33% to Rs 1,340 per sq.ft in 2017. From 2017 to 2023, the value rose by 49% to Rs 2,000 per sq.ft, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for West Gangaiamman Koil Street in 2002. Overall, the guideline value has increased by 610% from 2003 to 2024.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, placing West Gangaiamman Koil Street's 2024 figure above that median.

• V V V Garden: Rs 3,900 per sq.ft (2024)
• V.V.Venkatasubramaniam Salai: Rs 2,200 per sq.ft (2024)
• V.V.S.Subramaniam Enclave: Rs 3,300 per sq.ft (2024)
• V.V.S.Subramaniam Encalve Salai: Rs 3,300 per sq.ft (2024)
• V.V. Salai: Rs 5,500 per sq.ft (2024)
• V.R.Salai: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in West Gangaiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the 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 West Gangaiamman Koil Street?

The Sub Registrar Office that covers West Gangaiamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Uthandi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties comply with the regulatory requirements.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's assessed value.

Frequently asked questions

What is the current guideline value of West Gangaiamman Koil Street?

The current guideline value of West Gangaiamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 310 per sq.ft in 2003, increasing to Rs 500 in 2007, then Rs 2,000 in 2012, dropping to Rs 1,340 in 2017, rising to Rs 2,000 in 2023, and finally reaching Rs 2,200 in 2024.

What is the land classification for West Gangaiamman Koil Street?

West Gangaiamman Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

How does the guideline value compare to other streets in Uthandi?

In Uthandi, the guideline values range from Rs 1,100 to Rs 14,700 per sq.ft, with West Gangaiamman Koil Street's value of Rs 2,200 per sq.ft being above the median of Rs 1,700 per sq.ft.

Where can I find the Sub Registrar Office for West Gangaiamman Koil Street?

The Sub Registrar Office for West Gangaiamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.