Guideline Value for GANGAI NAGAR GANDHI STREET

Gangai Nagar Gandhi Street guideline value

The current guideline value of Gangai Nagar Gandhi 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 Gandhi Street has changed

The guideline value for Gangai Nagar Gandhi Street has seen significant changes over the years. In 2002, the value was Rs 77 per sq.ft, which increased to Rs 375 per sq.ft in 2007, marking a substantial rise of 387%. The value then jumped to Rs 2,300 per sq.ft in 2012, reflecting a 513% increase. However, it decreased to Rs 1,541 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 2,300 per sq.ft in 2023, and most recently, it has risen to Rs 2,500 per sq.ft in 2024, which is a 9% increase from the previous year.

Notably, there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 3147%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 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 guideline value of Gangai Nagar Gandhi Street.

• Gangai Nagar Govidnasamy Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Extension: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Indra Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Durga Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Jayasurya 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 Gandhi 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, resulting in a total of 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 detailed calculations.

Which Sub Registrar Office covers Gangai Nagar Gandhi Street?

The Sub Registrar Office that covers Gangai Nagar Gandhi 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

The guideline value plays a crucial role during the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Gangai Nagar Gandhi 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 77 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024. The highest increase occurred between 2002 and 2007, with a rise of 387%.

What is the land classification for Gangai Nagar Gandhi Street?

Gangai Nagar Gandhi Street is classified as Residential Class II Type - III under the Villivakkam SRO.

Where can I find the registration office for Gangai Nagar Gandhi Street?

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

How is the stamp duty calculated for properties in Korattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for registration fees.