Guideline Value for GANDHI NAGAR (NEAR SRINIVASAPURAM )2ND STERRT

Gandhi Nagar (Near Srinivasapuram )2nd Sterrt guideline value

The current guideline value of Gandhi Nagar (Near Srinivasapuram )2nd 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 is classified as Residential Class IV Type - I.

How the guideline value of Gandhi Nagar (Near Srinivasapuram )2nd Sterrt has changed

The guideline value for Gandhi Nagar (Near Srinivasapuram )2nd Sterrt has seen several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 375 per sq.ft. This value increased significantly to Rs 1,200 per sq.ft in 2012, marking a change of +220%. The value remained unchanged at Rs 1,200 per sq.ft until the 2023 revision, where it increased to Rs 1,300 per sq.ft, reflecting an increase of +8%.

Overall, from 2007 to 2024, the guideline value has increased by +247%. It is important to note that there are no recorded figures 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 for these streets is Rs 2,500 per sq.ft, placing Gandhi Nagar (Near Srinivasapuram )2nd Sterrt below that median.

• Gandhi Nagar (Near Srinivasapuram )1st 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 )2nd Sterrt

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% amounts to Rs 91,000, and the registration fee at 2% is Rs 26,000, making the total Rs 1,17,000. It is important to note that 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 details.

Which Sub Registrar Office covers Gandhi Nagar (Near Srinivasapuram )2nd Sterrt?

The Sub Registrar Office that covers Gandhi Nagar (Near Srinivasapuram )2nd Sterrt is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Gandhi Nagar (Near Srinivasapuram )2nd Sterrt?

The current guideline value of Gandhi Nagar (Near Srinivasapuram )2nd 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 increased from Rs 375 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of +247% over the years.

What are the other streets in Korattur with similar guideline values?

Other streets in Korattur with similar guideline values include Gandhi Nagar (Near Srinivasapuram )1st Sterrt and Gandhi Nagar (Near Srinivasapuram )3rd Sterrt, both at Rs 1,300 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Gandhi Nagar (Near Srinivasapuram )2nd Sterrt?

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

How is the stamp duty calculated for properties in Gandhi Nagar (Near Srinivasapuram )2nd Sterrt?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.