Guideline Value for GANGAI NAGAR V.O.C STREET

Gangai Nagar V.O.C Street guideline value

The current guideline value of Gangai Nagar V.O.C Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangai Nagar V.O.C Street has changed

The guideline value for Gangai Nagar V.O.C Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 375 per sq.ft. This figure increased significantly to Rs 2,300 per sq.ft in 2012, marking a change of +513%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, reflecting a +9% increase from the 2012 figure. The register has no figures for the years 2023, 2017, 2003, and 2002.

Overall, from 2007 to 2024, the guideline value has increased by +567%. The current value of Rs 2,500 per sq.ft aligns with the median value of Rs 2,500 per sq.ft for the 617 streets in Korattur under the Villivakkam SRO.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, which is the same as the current guideline value for Gangai Nagar V.O.C Street. Below are the guideline values for other streets in Korattur:

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

Stamp duty and registration fee for property in Gangai Nagar V.O.C 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. Together, the total cost for stamp duty and registration would be Rs 2,25,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Gangai Nagar V.O.C Street?

The Sub Registrar Office that covers Gangai Nagar V.O.C Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 in the registration process for property transactions in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

When buying or selling property, the guideline value helps maintain transparency and consistency in property transactions. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Gangai Nagar V.O.C Street?

The current guideline value of Gangai Nagar V.O.C 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 increased from Rs 375 per sq.ft in 2007 to Rs 2,300 per sq.ft in 2012, and then to Rs 2,500 per sq.ft in 2024. The overall increase from 2007 to 2024 is +567%.

What is the land classification for Gangai Nagar V.O.C Street?

The land classification for Gangai Nagar V.O.C Street is Residential Class II Type - III.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

How is the stamp duty calculated for properties in Gangai Nagar V.O.C Street?

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