Guideline Value for GANGAI NAGAR KUMARAN STREET

Gangai Nagar Kumaran Street guideline value

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

How the guideline value of Gangai Nagar Kumaran Street has changed

The guideline value for Gangai Nagar Kumaran Street has seen several revisions over the years. The earliest recorded figure in the register is from 2007, where the value was Rs 375 per sq.ft. This figure increased significantly to Rs 2,300 per sq.ft in 2012, marking a change of +513%. The value remained unchanged at Rs 2,300 per sq.ft until the 2023 revision, which saw a slight increase to Rs 2,500 per sq.ft, reflecting a change of +9%.

From 2007 to 2024, the overall change in guideline value is +567%, culminating in the current rate of Rs 2,500 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2017 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 for these streets is Rs 2,500 per sq.ft, which is equal to the current guideline value of Gangai Nagar Kumaran Street.

• Gangai Nagar Kaveri Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Madam Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Kambar Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Madurai Veeran Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Kamaraj Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Main Maistry Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Kumaran 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 fees together 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Nagar Kumaran Street?

The Gangai Nagar Kumaran Street falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When purchasing property, the guideline value is considered during the registration process, and the fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Gangai Nagar Kumaran 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 increased from Rs 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall change of +567% over the years.

What are the registration fees for property in Gangai Nagar Kumaran Street?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office covers Gangai Nagar Kumaran Street?

The Villivakkam Sub Registrar Office covers Gangai Nagar Kumaran Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there other streets in Korattur with the same guideline value?

Yes, there are several other streets in Korattur that share the same guideline value of Rs 2,500 per sq.ft, including Gangai Nagar Kaveri Street, Gangai Nagar Madam Street, and others.