Guideline Value for GANGA NAGAR 2ND STREET

Ganga Nagar 2nd Street guideline value

The current guideline value of Ganga Nagar 2nd 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 2nd Street has changed

The guideline value register shows no figures for Ganga Nagar 2nd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 6,000 per sq.ft.

As there have been no figures recorded for this street in the previous years, the current value reflects the first entry for Ganga Nagar 2nd Street in the guideline value register.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with 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, placing Ganga Nagar 2nd Street above this median.

• Ganga Nagar 1st 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 2nd 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, totaling Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganga Nagar 2nd Street?

The Ganga Nagar 2nd Street is covered by 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 details.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the associated fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganga Nagar 2nd Street?

The current guideline value of Ganga Nagar 2nd Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

What is the land classification of Ganga Nagar 2nd Street?

The land classification for Ganga Nagar 2nd Street is Residential Class II Type - III.

How has the guideline value changed over the years?

There have been no recorded figures for Ganga Nagar 2nd Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only current figure is from the 2024 revision, which is Rs 6,000 per sq.ft.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Ganga Nagar 2nd Street is 7%, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles the registration for Ganga Nagar 2nd Street?

The Ashok Nagar Sub Registrar Office handles the registration for Ganga Nagar 2nd Street. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.