Guideline Value for GANGAI NAGAR VALLIAMMAL STREET

Gangai Nagar Valliammal Street guideline value

The current guideline value of Gangai Nagar Valliammal 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 Valliammal Street has changed

The guideline value for Gangai Nagar Valliammal Street has seen significant changes over the years. In the 2007 revision, the value was set at Rs 375 per sq.ft. This figure increased dramatically to Rs 2,300 per sq.ft in the 2012 revision, marking a rise 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.

It is important to note that there are no figures available 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 guideline value for these streets is Rs 2,500 per sq.ft, which is the same as the current value for Gangai Nagar Valliammal Street.

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

The Sub Registrar Office that covers Gangai Nagar Valliammal 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 during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Gangai Nagar Valliammal 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% over the years.

What was the guideline value in 2012?

The guideline value in 2012 was Rs 2,300 per sq.ft, which was a significant increase from the Rs 375 per sq.ft set in 2007.

Are there any revisions without figures for Gangai Nagar Valliammal Street?

Yes, there are no figures available for the years 2002, 2003, 2017, and 2023 for Gangai Nagar Valliammal Street.

What is the registration office for Gangai Nagar Valliammal Street?

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