Guideline Value for GANDHI NAGAR (KALLIKUPPAM) 1 TO 4 STREETS

Gandhi Nagar (Kallikuppam) 1 To 4 Streets guideline value

The current guideline value for Gandhi Nagar (Kallikuppam) 1 To 4 Streets is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Gandhi Nagar (Kallikuppam) 1 To 4 Streets has changed

The guideline value for Gandhi Nagar (Kallikuppam) 1 To 4 Streets has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a significant rise of 150%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, an increase of 59% from the previous figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Gandhi Nagar (Kallikuppam) 1 To 4 Streets is below this median.

• GANDHI NAGAR (Kallikuppam) 5 to 8th CROSS STREETS: Rs 1,600 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram) 1st Sterrt: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram) 2nd Sterrt: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram) 3rd Sterrt: Rs 1,300 per sq.ft (2024)
• Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex): Rs 1,600 per sq.ft (2024)
• Ganesh Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar (Kallikuppam) 1 To 4 Streets

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar (Kallikuppam) 1 To 4 Streets?

The Sub Registrar Office that covers Gandhi Nagar (Kallikuppam) 1 To 4 Streets is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

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 means that the guideline value significantly influences the overall cost of property transactions in the area.

Frequently asked questions

What is the current guideline value for Gandhi Nagar (Kallikuppam) 1 To 4 Streets?

The current guideline value for Gandhi Nagar (Kallikuppam) 1 To 4 Streets is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 600 per sq.ft in 2007, increasing to Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 per sq.ft in 2017, and finally rising to Rs 1,600 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Gandhi Nagar (Kallikuppam) 1 To 4 Streets is Residential Class III Type - III.

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

The Sub Registrar Office for Gandhi Nagar (Kallikuppam) 1 To 4 Streets is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is 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, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.