Guideline Value for GANGAI NAGAR SANJAIGANDHI STREET

Gangai Nagar Sanjaigandhi Street guideline value

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

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure saw a significant decrease of 33% by the 2017 revision, where it dropped to Rs 1,541 per sq.ft. The value then increased by 49% to Rs 2,300 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

The register has no figure for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

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 for these streets is Rs 2,500 per sq.ft, which is equal to the current guideline value for Gangai Nagar Sanjaigandhi Street.

• Gangai Nagar Saibaba Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Saraswathy Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajiv Gandhi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sarojini Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajaji Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Pilliyar Koil 2nd Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Sanjaigandhi 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, while the registration fee at 2% would be Rs 50,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Gangai Nagar Sanjaigandhi Street?

The Gangai Nagar Sanjaigandhi Street falls under 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair price.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

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

The current guideline value of Gangai Nagar Sanjaigandhi 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 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Gangai Nagar Sanjaigandhi Street?

Gangai Nagar Sanjaigandhi Street is classified as Residential Class II Type - III.

Where is the Villivakkam 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 Sanjaigandhi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,75,000.