Guideline Value for GANGAI NAGAR THIRUVALLUR STREET

Gangai Nagar Thiruvallur Street guideline value

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

The guideline value for Gangai Nagar Thiruvallur Street has seen significant changes over the years. In the 2007 revision, the value was Rs 375 per sq.ft, which increased to Rs 2,300 per sq.ft in the 2012 revision, marking a substantial increase of 513%. The current 2024 revision now sets the guideline value at Rs 2,500 per sq.ft, reflecting a 9% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 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 carry 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 equal to the current guideline value for Gangai Nagar Thiruvallur Street.

• Gangai Nagar Thirunavukarasu Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Vaigai Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thilagavathi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Valliammal Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thilagavathi Cross Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar V.O.C Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Thiruvallur 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. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar Thiruvallur Street?

The Sub Registrar Office that covers Gangai Nagar Thiruvallur 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 plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

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

How much has the guideline value changed since 2007?

Since 2007, 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 are the other streets with the same guideline value in Korattur?

Other streets in Korattur with the same guideline value of Rs 2,500 per sq.ft include Gangai Nagar Thirunavukarasu Street, Gangai Nagar Vaigai Street, Gangai Nagar Thilagavathi Street, Gangai Nagar Valliammal Street, Gangai Nagar Thilagavathi Cross Street, and Gangai Nagar V.O.C Street.

What is the registration fee for property in Gangai Nagar Thiruvallur Street?

The registration fee for property in Gangai Nagar Thiruvallur Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 25,00,000, the registration fee would be Rs 50,000.

Where can I find the Sub Registrar Office for Gangai Nagar Thiruvallur Street?

The Sub Registrar Office for Gangai Nagar Thiruvallur Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.