Guideline Value for GANGAI NAGAR CHANDRIAH STREET

Gangai Nagar Chandriah Street guideline value

The current guideline value of Gangai Nagar Chandriah Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of Gangai Nagar Chandriah Street has changed

The guideline value for Gangai Nagar Chandriah Street has undergone several revisions over the years. In 2007, the value was Rs 375 per sq.ft, which saw a significant increase to Rs 2,300 per sq.ft in 2012, marking a rise of 513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The value then increased again to Rs 2,300 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

It is important to note that the register has no figures for Gangai Nagar Chandriah Street for the years 2002 and 2003. 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 value is Rs 2,500 per sq.ft, which is equal to the 2024 guideline value for Gangai Nagar Chandriah Street.

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

Stamp duty and registration fee for property in Gangai Nagar Chandriah 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 the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Nagar Chandriah Street?

The Sub Registrar Office that covers Gangai Nagar Chandriah Street is 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 further assistance.

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

When buying or selling property in Korattur, the guideline value is used to determine the stamp duty and registration fees applicable during the registration process. The guideline value serves as a benchmark for the minimum value at which properties are registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process in Korattur.

Frequently asked questions

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

The current guideline value of Gangai Nagar Chandriah 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 the years.

What is the land classification for Gangai Nagar Chandriah Street?

Gangai Nagar Chandriah Street is classified as Residential Class II Type - III.

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

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

How is stamp duty calculated for properties in Korattur?

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