Guideline Value for GANDHI NAGAR (NEAR SRINIVASAPURAM )1ST STERRT

Gandhi Nagar (Near Srinivasapuram )1st Sterrt guideline value

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

How the guideline value of Gandhi Nagar (Near Srinivasapuram )1st Sterrt has changed

The guideline value for Gandhi Nagar (Near Srinivasapuram )1st Sterrt has experienced several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. Following this, the value rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 220%, but then saw a decrease of 33% from 2012 to 2017. The value jumped by 49% from 2017 to 2023, and has increased by 8% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has risen by 247%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that the guideline value for Gandhi Nagar (Near Srinivasapuram )1st Sterrt is below this median.

• 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)
• 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 )1st Sterrt

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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 fees together 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar (Near Srinivasapuram )1st Sterrt?

The Sub Registrar Office that covers Gandhi Nagar (Near Srinivasapuram )1st 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 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 of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gandhi Nagar (Near Srinivasapuram )1st Sterrt?

The current guideline value of Gandhi Nagar (Near Srinivasapuram )1st 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 375 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 247% over the years.

What is the land classification for Gandhi Nagar (Near Srinivasapuram )1st Sterrt?

Gandhi Nagar (Near Srinivasapuram )1st Sterrt falls under the Residential Class IV Type - I land classification.

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

The Villivakkam Sub Registrar Office covers Gandhi Nagar (Near Srinivasapuram )1st Sterrt, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the total fees would amount to Rs 1,17,000.