Guideline Value for GANGAI NAGAR JEEVARATHINAM STREET

Gangai Nagar Jeevarathinam Street guideline value

The current guideline value of Gangai Nagar Jeevarathinam Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangai Nagar Jeevarathinam Street has changed

The guideline value for Gangai Nagar Jeevarathinam Street has seen several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, it then decreased to Rs 1,541 per sq.ft in 2017. The 2023 revision set the value at Rs 2,300 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,500 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the guideline value increased by 513%. Then, from 2012 to 2017, it decreased by 33%. Following that, there was a significant increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 567%. The register has no figures for the years 2002 and 2003 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 the same as the current guideline value for Gangai Nagar Jeevarathinam Street.

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

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

Which Sub Registrar Office covers Gangai Nagar Jeevarathinam Street?

The Sub Registrar Office that covers Gangai Nagar Jeevarathinam 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 reference point for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

Frequently asked questions

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

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,25,000.

Which office handles property registrations for this street?

The Villivakkam Sub Registrar Office handles property registrations for Gangai Nagar Jeevarathinam Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gangai Nagar Jeevarathinam Street?

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