Guideline Value for GANGAI NAGAR YAMUNA STREET

Gangai Nagar Yamuna Street guideline value

The current guideline value of Gangai Nagar Yamuna 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, with a land classification of Residential Class II Type - III.

How the guideline value of Gangai Nagar Yamuna Street has changed

The guideline value for Gangai Nagar Yamuna Street has seen several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012, marking a rise of 513%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a drop of 33%. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, reflecting a 62% increase from the 2017 figure.

It is important to note that the register has no figure for Gangai Nagar Yamuna Street for the years 2023, 2003, and 2002. Overall, from 2007 to 2024, 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 equal to the current figure for Gangai Nagar Yamuna Street.

• Gangai Nagar V.O.C Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Valliammal 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 Yamuna 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, totaling 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Gangai Nagar Yamuna Street?

The Sub Registrar Office covering Gangai Nagar Yamuna Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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. It serves as a benchmark for determining the minimum price 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 the appropriate revenue from property transactions.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 375 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 567%.

What are the stamp duty and registration fees for a property in Gangai Nagar Yamuna Street?

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.

Which office handles registrations for Gangai Nagar Yamuna Street?

The Villivakkam Sub Registrar Office handles registrations for Gangai Nagar Yamuna Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of guideline value in property transactions?

The guideline value is used as a minimum benchmark for property registration. It affects the calculation of stamp duty and registration fees during property transactions.