Guideline Value for GANGAI NAGAR THIRUNAVUKARASU STREET

Gangai Nagar Thirunavukarasu Street guideline value

The current guideline value for Gangai Nagar Thirunavukarasu 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 Thirunavukarasu Street has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,300 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,500 per sq.ft, marking a 9% rise from the previous year. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions with figures are from 2012, 2023, and 2024.

Guideline values in Korattur

In Korattur, there are a total of 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 aligns with the 2024 figure for Gangai Nagar Thirunavukarasu Street.

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

Stamp duty and registration fee for property in Gangai Nagar Thirunavukarasu 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, calculated at 7%, would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together 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.

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

Which Sub Registrar Office covers Gangai Nagar Thirunavukarasu Street?

The Sub Registrar Office that covers Gangai Nagar Thirunavukarasu 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Korattur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Gangai Nagar Thirunavukarasu Street?

The current guideline value for Gangai Nagar Thirunavukarasu 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 2,300 per sq.ft in 2023, and then increased to Rs 2,500 per sq.ft in 2024. Overall, there has been a 9% increase from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Gangai Nagar Thirunavukarasu Street?

The Villivakkam Sub Registrar Office handles property registration for Gangai Nagar Thirunavukarasu Street. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gangai Nagar Thirunavukarasu Street?

Gangai Nagar Thirunavukarasu Street is classified as Residential Class II Type - III, indicating its suitability for residential development.