Guideline Value for GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374)

GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374) guideline value

The current guideline value of GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374) is Rs 8,200 per sq.ft, effective from 1 July 2024. This property is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374) has changed

The guideline value for GANGA CAVERY FLATS has undergone several revisions over the years. In 2012, the guideline value was Rs 7,500 per sq.ft, which decreased to Rs 5,025 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 7,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 8,200 per sq.ft, which is a 9% increase from the previous year’s value of Rs 7,500 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft in 2024. The median guideline value for these streets is Rs 4,900 per sq.ft, placing the GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374) above this median.

• GANGA CAVERY FLATS (Except Block No.373, 374 Facing 19th Main Road): Rs 13,200 per sq.ft (2024)
• Ganga Cauvery Flats: Rs 8,200 per sq.ft (2024)
• Gangadhara Naicken Street: Rs 3,300 per sq.ft (2024)
• GEETHANJALI FLATS (7th AVENUE): Rs 13,200 per sq.ft (2024)
• Embar Naidu Street: Rs 2,200 per sq.ft (2024)
• Embar Naidu Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total cost for stamp duty and registration fees to Rs 7,38,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374)?

The GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374) 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 Villivakkam

The guideline value is a crucial factor when registering property transactions in Villivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps to establish a fair assessment of the property’s worth, which is essential for both the buyer and seller during the registration process. It is important to be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of GANGA CAVERY FLATS?

The current guideline value of GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then increased to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,200 per sq.ft in 2024.

What is the land classification of GANGA CAVERY FLATS?

GANGA CAVERY FLATS is classified as Residential Class II Type - I, indicating its designation for residential use.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers GANGA CAVERY FLATS, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in GANGA CAVERY FLATS?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 5,74,000.