Guideline Value for GANGAI NAGAR JAYASURYA STREET

Gangai Nagar Jayasurya Street guideline value

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

The guideline value for Gangai Nagar Jayasurya Street has seen a revision from Rs 2,300 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2024, reflecting a change of +9%. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the only recorded revisions for Gangai Nagar Jayasurya Street are from 2012 and 2024. The 2024 figure aligns with the median guideline value of Rs 2,500 per sq.ft for the 617 streets in Korattur under the Villivakkam SRO.

Guideline values in Korattur

In Korattur, the guideline values range from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Gangai Nagar Jayasurya Street's 2024 figure matches this median.

• Gangai Nagar Indra Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Jeevarathinam Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Govidnasamy Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Kabilar Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Gandhi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Kakkanji Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Jayasurya Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 25,00,000. The applicable stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, leading to 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 details.

Which Sub Registrar Office covers Gangai Nagar Jayasurya Street?

The Sub Registrar Office that covers Gangai Nagar Jayasurya 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 more information.

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

The guideline value is a crucial factor when registering 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 appropriate revenue through stamp duty and registration fees.

When buyers and sellers agree on a sale price, the higher amount between the guideline value and the sale price is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Gangai Nagar Jayasurya Street?

The current guideline value for Gangai Nagar Jayasurya 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 changed from Rs 2,300 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2024, which is an increase of +9%. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Gangai Nagar Jayasurya Street?

The land classification for Gangai Nagar Jayasurya Street is Residential Class II Type - III.

Where is the Sub Registrar Office located?

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 Jayasurya Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,75,000.