Guideline Value for GANGAI NAGAR THILAGAVATHI STREET

Gangai Nagar Thilagavathi Street guideline value

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

Looking at the historical revisions, the guideline value for Gangai Nagar Thilagavathi Street has seen significant changes over the years. The 2007 revision recorded a value of Rs 375 per sq.ft, which increased dramatically to Rs 2,300 per sq.ft in the 2012 revision. This marked a substantial rise of 513%. The value remained unchanged at Rs 2,300 per sq.ft in the 2023 revision, before increasing to Rs 2,500 per sq.ft in the 2024 revision, representing a 9% increase.

There are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 567%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which is the same as the guideline value for Gangai Nagar Thilagavathi Street. This places it at the median level among other streets in the area.

• Gangai Nagar Thilagavathi Corss Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thirunavukarasu Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thamirabarani Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thiruvallur Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sundari Bai Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Vaigai Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Thilagavathi 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, and the registration fee at 2% would be Rs 50,000, totaling 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gangai Nagar Thilagavathi Street?

The Sub Registrar Office that covers Gangai Nagar Thilagavathi Street is 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 during property registration in Korattur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that both buyers and sellers have a standard reference point.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions, as these costs are based on an established value rather than arbitrary figures.

Frequently asked questions

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

The current guideline value of Gangai Nagar Thilagavathi Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 375 per sq.ft to Rs 2,500 per sq.ft in 2024, marking an overall increase of 567%.

What is the land classification of Gangai Nagar Thilagavathi Street?

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

Where can I find the Sub Registrar Office for this street?

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

What are the stamp duty and registration fees for a property on this street?

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.