Guideline Value for GANGA ENCLAVE

Ganga Enclave guideline value

The current guideline value of Ganga Enclave in Perumalagaram village is Rs 2,420 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Ganga Enclave has changed

The guideline value for Ganga Enclave has undergone several revisions over the years. Beginning with the 2002 revision, the value was set at Rs 50 per sq.ft. This increased significantly to Rs 64 per sq.ft in 2003, marking a change of +28%. The value then surged dramatically to Rs 1,100 per sq.ft in 2007, which was a remarkable increase of +1619%. Following this, in 2012, the value decreased to Rs 2,200 per sq.ft, reflecting a drop of -33% from the previous revision.

In the subsequent revisions, the guideline value rose to Rs 1,474 per sq.ft in 2017, which was an increase of +49% from 2012. The value saw another increase in 2023, reaching Rs 2,200 per sq.ft. Finally, the latest revision in 2024 set the guideline value at Rs 2,420 per sq.ft, a change of +10% from the previous year. The register has no figure for the years between 2012 and 2017 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value for these streets is Rs 3,190 per sq.ft, indicating that Ganga Enclave's 2024 figure is below that median.

• Gangaiamman Nagar /Koil Street: Rs 2,420 per sq.ft (2024)
• Grand Vista: Rs 4,300 per sq.ft (2024)
• Janardhanam Street: Rs 3,190 per sq.ft (2024)
• Jayachandran Street: Rs 3,190 per sq.ft (2024)
• Devadoss Street: Rs 3,190 per sq.ft (2024)
• Bbcl Villa Haven: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Enclave

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to 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 details.

Which Sub Registrar Office covers Ganga Enclave?

The Sub Registrar Office that covers Ganga Enclave is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ganga Enclave?

The current guideline value of Ganga Enclave is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2002 to Rs 2,420 per sq.ft in 2024, reflecting a significant overall increase of +4740% over the years.

What is the land classification for Ganga Enclave?

Ganga Enclave is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Ganga Enclave?

The Sub Registrar Office for Ganga Enclave is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Ganga Enclave?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,20,000 would incur a stamp duty of Rs 1,69,400 at 7%.