Guideline Value for GANGAI NAGAR PILLIYAR KOIL 1st STREET

GANGAI NAGAR PILLIYAR KOIL 1st STREET guideline value

The current guideline value of GANGAI NAGAR PILLIYAR KOIL 1st STREET is Rs 2,500 per sq.ft, effective from 1 July 2024. 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 PILLIYAR KOIL 1st STREET has changed

The guideline value for GANGAI NAGAR PILLIYAR KOIL 1st STREET has seen significant changes over the years. In the 2007 revision, the value was Rs 375 per sq.ft, which increased dramatically to Rs 2,300 per sq.ft in the 2012 revision, marking a rise of 513%. However, the value then decreased to Rs 1,541 per sq.ft in the 2017 revision, a drop of 33%. The value rebounded to Rs 2,300 per sq.ft in the 2023 revision, and as of the 2024 revision, it stands at Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 567%. 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 that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, making GANGAI NAGAR PILLIYAR KOIL 1st STREET's 2024 figure equal to this median.

• Gangai Nagar Padaiachi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Pilliyar Koil 2nd Sterrt: Rs 2,500 per sq.ft (2024)
• Gangai Nagar N.S.K Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajaji Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar New Rajiv Street: Rs 2,700 per sq.ft (2024)
• Gangai Nagar Rajiv Gandhi Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in GANGAI NAGAR PILLIYAR KOIL 1st 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, charged at 7%, would be 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 essential to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers GANGAI NAGAR PILLIYAR KOIL 1st STREET?

The Sub Registrar Office that covers GANGAI NAGAR PILLIYAR KOIL 1st 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 details.

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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, it is important to be aware of the guideline value, as it directly impacts the stamp duty and registration fees that will be applicable. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of GANGAI NAGAR PILLIYAR KOIL 1st STREET?

The current guideline value of GANGAI NAGAR PILLIYAR KOIL 1st STREET is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 567% to reach the current value of Rs 2,500 per sq.ft in 2024. The most significant change occurred between the 2007 and 2012 revisions, where there was a 513% increase.

Where can I find the registration office for GANGAI NAGAR PILLIYAR KOIL 1st STREET?

The registration office for GANGAI NAGAR PILLIYAR KOIL 1st STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher. This is part of the registration process when buying or selling property.

What is the land classification for GANGAI NAGAR PILLIYAR KOIL 1st STREET?

The land classification for GANGAI NAGAR PILLIYAR KOIL 1st STREET is Residential Class II Type - III, indicating its designated use for residential purposes.