Guideline Value for G.G. NAGAR

G.G. Nagar guideline value

The current guideline value of G.G. Nagar, located in Ikkadu village under the Tiruvallur Joint 1 SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of G.G. Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This remained unchanged in the 2017 revision, which also recorded a value of Rs 268 per sq.ft. The 2023 revision again maintained the value at Rs 400 per sq.ft. The 2024 revision, effective from 1 July 2024, continues this trend with a guideline value of Rs 400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, there was a significant change from 2017 to 2023, with an increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,400 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current guideline value of G.G. Nagar.

• Gomathi Amman Nagar Annex- Xx: Rs 300 per sq.ft (2024)
• Elumalai Garden: Rs 626 per sq.ft (2024)
• Jaihind Nagar: Rs 400 per sq.ft (2024)
• Kalyana Kuppam Street: Rs 300 per sq.ft (2024)
• Karpagatharu Nagar-Phase-II: Rs 500 per sq.ft (2024)
• Keizpathy Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in G.G. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. 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 details.

Which Sub Registrar Office covers G.G. Nagar?

The G.G. Nagar area falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ikkadu. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value serves as a baseline for calculating various fees. It is essential to be aware of this value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of G.G. Nagar?

The current guideline value of G.G. Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 400 per sq.ft. There was a significant increase of 49% from 2017 to 2023, but overall, the value from 2012 to 2024 has remained unchanged.

What are the other streets in Ikkadu with their guideline values?

Other streets in Ikkadu include Gomathi Amman Nagar Annex- Xx at Rs 300 per sq.ft, Elumalai Garden at Rs 626 per sq.ft, Jaihind Nagar at Rs 400 per sq.ft, Kalyana Kuppam Street at Rs 300 per sq.ft, Karpagatharu Nagar-Phase-II at Rs 500 per sq.ft, and Keizpathy Street at Rs 400 per sq.ft.

How is the stamp duty calculated in G.G. Nagar?

Stamp duty in G.G. Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 28,000 based on the current guideline value.

Where can I find the Sub Registrar Office for G.G. Nagar?

The Sub Registrar Office covering G.G. Nagar is the Tiruvallur Joint 1 SRO, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.