Guideline Value for GANGAI NAGAR BHUVANESWARI KOIL STREET

Gangai Nagar Bhuvaneswari Koil Street guideline value

The current guideline value of Gangai Nagar Bhuvaneswari Koil 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangai Nagar Bhuvaneswari Koil Street has changed

The guideline value for Gangai Nagar Bhuvaneswari Koil 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 change of +513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a drop of -33%. The most recent revision in 2024 brought the guideline value to Rs 2,500 per sq.ft, reflecting an increase of +62% from the 2017 figure.

There are no figures available for the revisions in 2023, 2003, and 2002 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 value is Rs 2,500 per sq.ft, which is equal to the 2024 figure for Gangai Nagar Bhuvaneswari Koil Street.

• Gangai Nagar Bharathi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Chamundeswari Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Athiyamn Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Chandriah Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Aringar Anna Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Dr.Radhakrishnan Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Bhuvaneswari Koil 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 charges to Rs 2,25,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Nagar Bhuvaneswari Koil Street?

The Gangai Nagar Bhuvaneswari Koil 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 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 in the registration process for property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Gangai Nagar Bhuvaneswari Koil Street?

The current guideline value of Gangai Nagar Bhuvaneswari Koil 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, reflecting an overall increase of +567% over this period.

What was the guideline value in 2017?

The guideline value for Gangai Nagar Bhuvaneswari Koil Street in 2017 was Rs 1,541 per sq.ft.

Which Sub Registrar Office covers this street?

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

What is the process for calculating stamp duty and registration fees?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,25,000 in charges.