Guideline Value for GANGAI NAGAR ANNA STREET

Gangai Nagar Anna Street guideline value

The current guideline value of Gangai Nagar Anna Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangai Nagar Anna Street has changed

The guideline value for Gangai Nagar Anna Street has seen significant changes over the years. In the 2007 revision, the value was Rs 375 per sq.ft, which increased dramatically to Rs 2,300 per sq.ft in the 2012 revision, marking an increase of 513%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, reflecting a 9% increase from the 2012 figure.

There are no figures available for the revisions in 2003, 2002, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 567%.

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, which is equal to the current guideline value of Gangai Nagar Anna Street.

• Gangai Nagar Annamalaiyar Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Aringar Anna Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annai Therea Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Athiyamn Street: Rs 2,500 per sq.ft (2024)
• GANGAI NAGAR (All Inner Side Streets): Rs 2,500 per sq.ft (2024)
• Gangai Nagar Bharathi Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Anna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost for these fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gangai Nagar Anna Street?

The Gangai Nagar Anna Street is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The buyer must pay the stamp duty based on the higher of either the guideline value or the sale price of the property.

This ensures that all transactions are fairly assessed and that the government receives the appropriate revenue from property sales. It is essential for buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gangai Nagar Anna Street?

The current guideline value of Gangai Nagar Anna Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 375 per sq.ft to Rs 2,500 per sq.ft in 2024, marking an overall increase of 567%.

What is the land classification for Gangai Nagar Anna Street?

The land classification for Gangai Nagar Anna Street is Residential Class II Type - III.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000.

Where can I find the Sub Registrar Office for Gangai Nagar Anna Street?

The Villivakkam Sub Registrar Office covers Gangai Nagar Anna Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.