Guideline Value for GANGAI NAGAR PILLIYAR KOIL 2ND STERRT

Gangai Nagar Pilliyar Koil 2nd Sterrt guideline value

The current guideline value of Gangai Nagar Pilliyar Koil 2nd Sterrt 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 2nd Sterrt has changed

The guideline value for Gangai Nagar Pilliyar Koil 2nd Sterrt has seen several revisions over the years. In 2007, the value was Rs 375 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a substantial rise of 513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The value then rose again to Rs 2,300 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 sets the value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 567%.

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, with the median value being Rs 2,500 per sq.ft. The guideline value of Gangai Nagar Pilliyar Koil 2nd Sterrt aligns with this median.

• GANGAI NAGAR PILLIYAR KOIL 1st STREET: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajaji Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Padaiachi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajiv Gandhi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar N.S.K Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Saibaba Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Pilliyar Koil 2nd Sterrt

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 cost for these fees to Rs 2,25,000. It is essential to note that 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 Pilliyar Koil 2nd Sterrt?

The Gangai Nagar Pilliyar Koil 2nd Sterrt is covered by 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 critical factor in the registration process for property transactions in Korattur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Gangai Nagar Pilliyar Koil 2nd Sterrt?

The current guideline value of Gangai Nagar Pilliyar Koil 2nd Sterrt 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 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, an overall increase of 567%.

What are the registration fees for property in Gangai Nagar Pilliyar Koil 2nd Sterrt?

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 office handles the registration for this area?

The Villivakkam Sub Registrar Office handles the registration for Gangai Nagar Pilliyar Koil 2nd Sterrt, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gangai Nagar Pilliyar Koil 2nd Sterrt?

Gangai Nagar Pilliyar Koil 2nd Sterrt is classified as Residential Class II Type - III.