Guideline Value for GANGAI NAGAR SIVAPURI STREET

Gangai Nagar Sivapuri Street guideline value

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

The guideline value for Gangai Nagar Sivapuri Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,300 per sq.ft in the 2023 revision, and the current value is Rs 2,500 per sq.ft as of the 2024 revision.

From 2017 to 2023, the value increased by 49%, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 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, which is equal to the current value of Gangai Nagar Sivapuri Street.

• Gangai Nagar Srinivasan Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sarojini Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sundari Bai Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Saraswathy Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thamirabarani Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sanjaigandhi Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Sivapuri 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 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 Sivapuri Street?

The Gangai Nagar Sivapuri 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 an essential factor in the registration process for property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This value helps maintain transparency in property dealings within the region.

Frequently asked questions

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

The current guideline value of Gangai Nagar Sivapuri 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 is currently Rs 2,500 per sq.ft as of 2024.

What is the land classification for Gangai Nagar Sivapuri Street?

The land classification for Gangai Nagar Sivapuri Street is Residential Class II Type - III.

Which Sub Registrar Office covers this street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,25,000 in fees.