Guideline Value for GANGA NAGAR 1ST STREET

Ganga Nagar 1st Street guideline value

The current guideline value of Ganga Nagar 1st Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ganga Nagar 1st Street has changed

The guideline value register has no figures for Ganga Nagar 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 6,000 per sq.ft.

There have been no changes between the revisions listed above. The 2024 revision is the first recorded figure for this street in the guideline value register.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making the guideline value for Ganga Nagar 1st Street above that median.

• Ganga Nagar 2nd Street: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 3rd Street: Rs 6,000 per sq.ft (2024)
• Ganga Nagar 4th Street: Rs 6,000 per sq.ft (2024)
• Ganga Nagar: Rs 6,000 per sq.ft (2024)
• Gangai Kondan Salai: Rs 3,300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ganga Nagar 1st Street?

The Sub Registrar Office that covers Ganga Nagar 1st Street is the Ashok Nagar 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 Kodambakkam

The guideline value is a crucial factor when registering property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This process is essential for maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Ganga Nagar 1st Street?

The current guideline value of Ganga Nagar 1st Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

What is the land classification for Ganga Nagar 1st Street?

The land classification for Ganga Nagar 1st Street is Residential Class II Type - III.

What are the stamp duty and registration fees for properties in Ganga Nagar 1st Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 5,40,000.

Which Sub Registrar Office covers Ganga Nagar 1st Street?

The Ashok Nagar Sub Registrar Office covers Ganga Nagar 1st Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions in Kodambakkam?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is recorded at a fair value in accordance with the official register.