Guideline Value for GANGAI NAGAR ARINGAR ANNA STREET

Gangai Nagar Aringar Anna Street guideline value

The current guideline value of Gangai Nagar Aringar Anna Street is Rs 2,500 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 II Type - III.

How the guideline value of Gangai Nagar Aringar Anna Street has changed

The guideline value for Gangai Nagar Aringar Anna Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 375 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in the 2012 revision. However, this value decreased to Rs 1,541 per sq.ft in the 2017 revision before rising again to Rs 2,300 per sq.ft in 2023. The current 2024 revision marks a further increase to Rs 2,500 per sq.ft.

In terms of percentage changes, the value increased by 513% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 shows an increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 567%. There are no figures available for the revisions in 2002 and 2003 for this street.

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, with a median value of Rs 2,500 per sq.ft. The guideline value of Gangai Nagar Aringar Anna Street aligns with this median at Rs 2,500 per sq.ft.

• Gangai Nagar Anna Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Athiyamn Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annamalaiyar Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Bharathi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annai Therea Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Bhuvaneswari Koil Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Aringar 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 amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Nagar Aringar Anna Street?

The Gangai Nagar Aringar Anna Street falls under the jurisdiction of 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

The guideline value is a crucial factor when it comes to property registration in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable on property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the necessary fees based on the property's worth. This ensures that both parties are aware of the financial implications of the sale and can plan accordingly.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 567% over the years.

What is the role of the Villivakkam SRO?

The Villivakkam SRO is responsible for property registrations in the Korattur area, including Gangai Nagar Aringar Anna Street. It ensures that all property transactions comply with local regulations.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,00,000 incurs a stamp duty of Rs 1,75,000 and a registration fee of Rs 50,000.

Are there other streets with the same guideline value?

Yes, several other streets in Korattur also share the same guideline value of Rs 2,500 per sq.ft for 2024, including Gangai Nagar Athiyamn Street and Gangai Nagar Bharathi Street.