Guideline Value for GANGADHARA NAICKEN STREET

Gangadhara Naicken Street guideline value

The current guideline value of Gangadhara Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Gangadhara Naicken Street has changed

The guideline value for Gangadhara Naicken Street has undergone several revisions over the years. Starting from Rs 632 per sq.ft in 2002, it increased to Rs 725 per sq.ft in 2003, marking a 15% rise. By 2007, the value jumped significantly to Rs 950 per sq.ft, reflecting a 31% increase. The value then saw a remarkable rise to Rs 3,000 per sq.ft in 2012, which was a 216% increase from the previous figure. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33% before climbing back to Rs 3,000 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in years other than those stated. The overall change from 2002 to 2024 indicates a substantial increase of 422%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Gangadhara Naicken Street's 2024 figure below this median.

• GANGA CAVERY FLATS (Thirumangalam Road) (Block No.373, 374): Rs 8,200 per sq.ft (2024)
• 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)
• 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 Gangadhara Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gangadhara Naicken Street?

The Gangadhara Naicken Street falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gangadhara Naicken Street?

The current guideline value for Gangadhara Naicken Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 632 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 422% over this period.

What are the stamp duty rates for property in Gangadhara Naicken Street?

The stamp duty for property transactions in Gangadhara Naicken Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value for streets in Villivakkam?

The median guideline value for the 372 streets in Villivakkam is Rs 4,900 per sq.ft, with Gangadhara Naicken Street's 2024 figure being below this median.