Guideline Value for GANGAI NAGAR ATHIYAMN STREET

Gangai Nagar Athiyamn Street guideline value

The current guideline value for Gangai Nagar Athiyamn Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, 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 Athiyamn Street has changed

The guideline value for Gangai Nagar Athiyamn Street has seen several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a remarkable rise of 513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, representing an increase of 62% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, 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 for Gangai Nagar Athiyamn Street.

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

Stamp duty and registration fee for property in Gangai Nagar Athiyamn 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 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar Athiyamn Street?

The Gangai Nagar Athiyamn Street falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 an essential factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Gangai Nagar Athiyamn Street?

The current guideline value for Gangai Nagar Athiyamn 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 significantly from Rs 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 567% over the years.

What land classification is Gangai Nagar Athiyamn Street?

Gangai Nagar Athiyamn Street is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Gangai Nagar Athiyamn Street is the Villivakkam SRO, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 25,00,000, the stamp duty at 7% would be Rs 1,75,000.