Guideline Value for GANGAI NAGAR SARASWATHY STREET

Gangai Nagar Saraswathy Street guideline value

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

How the guideline value of Gangai Nagar Saraswathy Street has changed

The guideline value for Gangai Nagar Saraswathy Street has seen several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,300 per sq.ft, and the current 2024 revision has further increased it to Rs 2,500 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 represents a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%. There are no figures available for the years 2002, 2003, and 2007 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 for these streets is Rs 2,500 per sq.ft, which is equal to the current value of Gangai Nagar Saraswathy Street.

• Gangai Nagar Sanjaigandhi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sarojini Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Saibaba Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajiv Gandhi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sivapuri Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Rajaji Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Saraswathy 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 to Rs 2,25,000. Please note that the 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 Saraswathy Street?

The Gangai Nagar Saraswathy Street 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 crucial factor in property transactions in Korattur. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with legal requirements. This helps avoid any discrepancies during the registration process and ensures that all fees are accurately calculated based on the current rates.

Frequently asked questions

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

The current guideline value of Gangai Nagar Saraswathy 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 are the other streets in Korattur with the same guideline value?

Other streets in Korattur with a guideline value of Rs 2,500 per sq.ft in 2024 include Gangai Nagar Sanjaigandhi Street, Gangai Nagar Sarojini Street, Gangai Nagar Saibaba Street, Gangai Nagar Rajiv Gandhi Street, Gangai Nagar Sivapuri Street, and Gangai Nagar Rajaji Street.

Where can I find the Villivakkam Sub Registrar Office?

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 Saraswathy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a 1,000 sq.ft plot at the current guideline value of Rs 25,00,000, the stamp duty would be Rs 1,75,000.