Guideline Value for GANGAI NAGAR THILAGAVATHI CORSS STREET

Gangai Nagar Thilagavathi Corss Street guideline value

The current guideline value of Gangai Nagar Thilagavathi Corss 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 falls under the Residential Class II Type - III land classification.

How the guideline value of Gangai Nagar Thilagavathi Corss Street has changed

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

There are no figures available for the years 2002, 2003, and 2017 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 village, 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 the same as the 2024 figure for Gangai Nagar Thilagavathi Corss Street.

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

Stamp duty and registration fee for property in Gangai Nagar Thilagavathi Corss 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 charged 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 Thilagavathi Corss Street?

The Gangai Nagar Thilagavathi Corss Street falls under the jurisdiction of 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 when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 567%, from Rs 375 per sq.ft to Rs 2,500 per sq.ft in 2024. The most significant increase occurred between 2007 and 2012, with a rise of 513%.

What is the land classification for Gangai Nagar Thilagavathi Corss Street?

Gangai Nagar Thilagavathi Corss Street is classified as Residential Class II Type - III, indicating its designation for residential use.

Where can I find the registration office for this street?

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

How is the stamp duty calculated for properties in Gangai Nagar Thilagavathi Corss Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.