Guideline Value for GANGAI NAGAR DURGA STREET

Gangai Nagar Durga Street guideline value

The current guideline value of Gangai Nagar Durga Street is Rs 2,500 per sq.ft. 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 Durga Street has changed

Over the years, the guideline value for Gangai Nagar Durga Street has seen several revisions. The 2007 revision set the value at Rs 375 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking an increase of 513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a decline of 33%. The 2017 revision saw a substantial increase to Rs 2,300 per sq.ft in 2023, which was a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

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 is Rs 2,500 per sq.ft, which is equal to the current value of Gangai Nagar Durga Street.

• Gangai Nagar Dr.Radhakrishnan Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Extension: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Chandriah Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Chamundeswari Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Gandhi 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 Durga 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 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 calculate your costs using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar Durga Street?

The Sub Registrar Office that covers Gangai Nagar Durga Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value plays a crucial role during the registration process. The guideline value is used to determine the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

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

The current guideline value of Gangai Nagar Durga 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, marking an overall increase of 567% over the years.

What is the land classification for Gangai Nagar Durga Street?

Gangai Nagar Durga Street is classified as Residential Class II Type - III under the current guidelines.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Gangai Nagar Durga Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,75,000.