Guideline Value for GANGAI NAGAR CHAMUNDESWARI STREET

Gangai Nagar Chamundeswari Street guideline value

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

How the guideline value of Gangai Nagar Chamundeswari Street has changed

Over the years, the guideline value for Gangai Nagar Chamundeswari Street has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,541 per sq.ft. The 2023 revision increased the value to Rs 2,300 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values 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 the same as the current value for Gangai Nagar Chamundeswari Street.

• Gangai Nagar Bhuvaneswari Koil Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Chandriah Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Bharathi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Dr.Radhakrishnan Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Athiyamn Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Durga Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Chamundeswari 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, making the total charges Rs 2,25,000. It is important to note that the 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 Chamundeswari Street?

The Gangai Nagar Chamundeswari Street falls under 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally compliant.

When buying or selling property, the guideline value helps in establishing a baseline value for the property, which is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Gangai Nagar Chamundeswari 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 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, marking a 9% increase. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012, showing a significant rise over the years.

What is the classification of land in Gangai Nagar Chamundeswari Street?

The land classification for Gangai Nagar Chamundeswari Street is Residential Class II Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties in this area?

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