Guideline Value for GANGAIAMMAN NAGAR

Gangaiamman Nagar guideline value

The current guideline value of Gangaiamman Nagar, located in Korattur village under the Villivakkam SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Gangaiamman Nagar has changed

The guideline value for Gangaiamman Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 69 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a substantial rise of 262%. Following this, the value surged to Rs 2,300 per sq.ft in 2012, reflecting an impressive increase of 820%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, representing an increase of 62% from the 2017 figure.

Overall, from 2002 to 2024, the guideline value has increased by 3,523%. It is important to note that there are no figures available for the years 2003 and 2023 for this street in the register.

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 is Rs 2,500 per sq.ft, placing Gangaiamman Nagar's 2024 figure at the median level.

• Gangai Amman Koil Streets (Kallikuppam): Rs 2,500 per sq.ft (2024)
• Gangai Amman Koil Street (Korattur): Rs 1,600 per sq.ft (2024)
• GANGAI NAGAR (All Inner Side Streets): Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annai Therea Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annamalaiyar Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Anna Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Nagar

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 charges 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangaiamman Nagar?

The Sub Registrar Office that covers Gangaiamman Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

How the guideline value is used when you buy or sell in Korattur

When buying or selling property in Korattur, the guideline value plays a critical role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on an official valuation rather than the negotiated sale price.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of transactions. Understanding the guideline value helps in planning the financial aspects of property dealings in the area.

Frequently asked questions

What is the current guideline value of Gangaiamman Nagar?

The current guideline value of Gangaiamman Nagar 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 69 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 3,523% over this period.

What is the land classification of Gangaiamman Nagar?

Gangaiamman Nagar is classified as Residential Class II Type - III.

Where is the Sub Registrar Office for Gangaiamman Nagar located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,500 per sq.ft would incur a total guideline value of Rs 25,00,000.