Guideline Value for GANDHIMATHI-SREERAMULU KUDIYIRUPPU (T.V.S.NAGAR ANNEX)

Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) guideline value

The current guideline value for Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) is Rs 1,600 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 III Type - III.

How the guideline value of Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) has changed

The guideline value for this street has seen revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 1,600 per sq.ft, marking a 7% increase from the 2012 figure. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From the 2012 revision to the 2024 revision, the value increased from Rs 1,500 to Rs 1,600 per sq.ft. This change indicates a gradual adjustment in the guideline value over the years, reflecting the latest assessment as of July 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have 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 of Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) is below this median.

• Gandhi Nagar (Kallikuppam) 1 To 4 Streets: Rs 1,600 per sq.ft (2024)
• 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)
• Ganapathi Nagar @ Sri Ganapathi Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total 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, bringing the total to Rs 1,44,000. 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 further calculations.

Which Sub Registrar Office covers Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex)?

The Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) is covered by 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 plays a crucial role during property registration in Korattur. It is used to determine the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Gandhimathi-Sreeramulu Kudiyiruppu?

The current guideline value of Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, representing a 7% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of this street?

The land classification of Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex) is Residential Class III Type - III, indicating its designated use for residential purposes.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 16,00,000, the stamp duty at 7% would amount to Rs 1,12,000, along with a registration fee of 2% totaling Rs 32,000.