Guideline Value for GANGAI NAGAR VAIGAI STREET

Gangai Nagar Vaigai Street guideline value

The current guideline value of Gangai Nagar Vaigai 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, classified as Residential Class II Type - III.

How the guideline value of Gangai Nagar Vaigai Street has changed

The guideline value for Gangai Nagar Vaigai Street has seen significant changes over the years. In 2002, the guideline value was Rs 77 per sq.ft, which increased to Rs 375 per sq.ft in 2007, marking a substantial rise of 387%. By 2012, the value further escalated to Rs 2,300 per sq.ft, reflecting a remarkable increase of 513% from the previous revision. The latest revision in 2024 sets the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the 2012 figure.

It is important to note that there are no figures available for the years 2003, 2017, and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by an impressive 3147%.

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 guideline value for these streets is Rs 2,500 per sq.ft, which is the same as the guideline value for Gangai Nagar Vaigai Street.

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

Stamp duty and registration fee for property in Gangai Nagar Vaigai 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, making the total charges Rs 2,25,000. It is important to note that the 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 more information.

Which Sub Registrar Office covers Gangai Nagar Vaigai Street?

The Sub Registrar Office that covers Gangai Nagar Vaigai 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 details.

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 during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Gangai Nagar Vaigai 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 significantly from Rs 77 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 3147% over the years.

What is the land classification for Gangai Nagar Vaigai Street?

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

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

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

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees can be calculated based on the guideline value of the property. For example, for a 1,000 sq.ft plot at Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000, with stamp duty and registration fees amounting to Rs 2,25,000.