Guideline Value for GRAMANI STREET (THANTHANKUPPAM)

Gramani Street (Thanthankuppam) guideline value

The current guideline value of Gramani Street (Thanthankuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Gramani Street (Thanthankuppam) has changed

The guideline value for Gramani Street (Thanthankuppam) has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was set at Rs 250 per sq.ft. This figure experienced a significant increase in the 2012 revision, remaining at Rs 1,500 per sq.ft. However, there were no figures available for the years 2002, 2003, and 2017.

In the 2023 revision, the guideline value was again Rs 1,500 per sq.ft, showing no change from the previous revision. The most recent revision in 2024 raised the guideline value to Rs 1,600 per sq.ft, marking a 7% increase from 2023. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with 2024 guideline values 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, placing Gramani Street's 2024 figure below this median.

• G.P.S Nagar: Rs 1,300 per sq.ft (2024)
• Govindraj Nagar: Rs 1,600 per sq.ft (2024)
• Gurusamy Nagar: Rs 1,600 per sq.ft (2024)
• Haji Nagar: Rs 1,600 per sq.ft (2024)
• Hajmir Kaja Nagar: Rs 1,600 per sq.ft (2024)
• Gopala Krishna Nagar Extension: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gramani Street (Thanthankuppam)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please note that 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 Gramani Street (Thanthankuppam)?

The Sub Registrar Office that covers Gramani Street (Thanthankuppam) 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 of property transactions in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When buying or selling property, it is important to be aware of the current guideline value, as it directly influences the overall cost of the transaction. Buyers and sellers should consult the latest figures to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Gramani Street (Thanthankuppam)?

The current guideline value of Gramani Street (Thanthankuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 540% over the years.

What are the stamp duty and registration fees for a property in Gramani Street?

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total stamp duty and registration fees would be Rs 1,44,000.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers Gramani Street (Thanthankuppam), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Gramani Street?

The land classification for Gramani Street (Thanthankuppam) is Residential Class III Type - III.