Guideline Value for GANGA NAGAR M.P.C STREET

Ganga Nagar M.P.C Street guideline value

The current guideline value of Ganga Nagar M.P.C Street is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village under the Poonamallee SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Ganga Nagar M.P.C Street has changed

Over the years, the guideline value for Ganga Nagar M.P.C Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the guideline value to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,740 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Ganga Nagar M.P.C Street is above this median.

• Ganganagar Main Street: Rs 2,740 per sq.ft (2024)
• Ganganagar Kalinger Karunanethi Street: Rs 2,740 per sq.ft (2024)
• Ganga nagar: Rs 2,740 per sq.ft (2024)
• Gangai nagar: Rs 2,740 per sq.ft (2024)
• Gangaikondaanmandappa veethi: Rs 2,740 per sq.ft (2024)
• Gopalapuram: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar M.P.C Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value would be Rs 27,40,000. The stamp duty at 7% would amount to Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, resulting in a total of Rs 2,46,600. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganga Nagar M.P.C Street?

The Sub Registrar Office that covers Ganga Nagar M.P.C Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. The stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganga Nagar M.P.C Street?

The current guideline value of Ganga Nagar M.P.C Street is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,740 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Ganga Nagar M.P.C Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,91,800, and the registration fee would be Rs 54,800, amounting to a total of Rs 2,46,600.

Which office handles registrations for Ganga Nagar M.P.C Street?

The Poonamallee Sub Registrar Office handles registrations for Ganga Nagar M.P.C Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the guideline value determined for properties in Poonthamallee?

The guideline value is determined based on various factors, including land classification and previous revisions. It is used to calculate the stamp duty and registration fees during property transactions.