Guideline Value for GANGAI AMMAN KOIL STREET (KORATTUR)

Gangai Amman Koil Street (Korattur) guideline value

The current guideline value of Gangai Amman Koil Street (Korattur) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Gangai Amman Koil Street (Korattur) has changed

The guideline value for Gangai Amman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. This represents a decline of 33%. However, the most recent revision in 2024 has increased the guideline value to Rs 1,600 per sq.ft, marking a significant increase of 59% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 7%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

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. Gangai Amman Koil Street's current guideline value is below this median.

• Gangai Amman Koil Streets (Kallikuppam): Rs 2,500 per sq.ft (2024)
• Gangaiamman Nagar: Rs 2,500 per sq.ft (2024)
• GANGAI NAGAR (All Inner Side Streets): Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annai Therea Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annamalaiyar Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Anna Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Koil Street (Korattur)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Amman Koil Street (Korattur)?

The Sub Registrar Office that covers Gangai Amman Koil Street (Korattur) 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher amount. This ensures that the registration process is transparent and reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value of Gangai Amman Koil Street (Korattur)?

The current guideline value of Gangai Amman Koil Street (Korattur) 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 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What is the land classification for Gangai Amman Koil Street (Korattur)?

The land classification for Gangai Amman Koil Street (Korattur) is Residential Class III Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Gangai Amman Koil Street (Korattur) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gangai Amman Koil Street (Korattur)?

The Sub Registrar Office for Gangai Amman Koil Street (Korattur) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.