Guideline Value for GANDHI NAGAR (NEAR SRINIVASAPURAM ) 3RD STERRT

Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt guideline value

The current guideline value of Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This figure saw a significant increase in the 2012 revision, where it doubled to Rs 1,200 per sq.ft. There was no change in the guideline value from 2012 to 2023, which remained at Rs 1,200 per sq.ft. The 2023 revision saw an increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 117%. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street.

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. The median guideline value in this area is Rs 2,500 per sq.ft, placing Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt below that median.

• Gandhi Nagar (Near Srinivasapuram ) 2nd Sterrt: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram ) 1st Sterrt: Rs 1,300 per sq.ft (2024)
• GANDHI NAGAR (Kallikuppam) 5 to 8th CROSS STREETS: Rs 1,600 per sq.ft (2024)
• Gandhi Nagar (Kallikuppam) 1 To 4 Streets: Rs 1,600 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 (Near Srinivasapuram ) 3rd Sterrt

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the 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 Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt?

The Sub Registrar Office that covers Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt?

The current guideline value of Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking a total increase of 117% over this period.

What are the guideline values for other streets in Korattur?

Other streets in Korattur have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft.

What fees are involved in the registration process?

When registering property, a stamp duty of 7% and a registration fee of 2% are applicable. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Villivakkam Sub Registrar Office covers Gandhi Nagar (Near Srinivasapuram ) 3rd Sterrt, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.