Guideline Value for GANGA NAGAR THILAGAR STREET

Ganga Nagar Thilagar Street guideline value

The current guideline value of Ganga Nagar Thilagar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ganga Nagar Thilagar Street has changed

The guideline value for Ganga Nagar Thilagar Street has seen several revisions over the years. The earliest available figure is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. The next revision in 2023 saw a significant increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

While there are revisions for the years 2002, 2003, and 2007, the register has no figure for Ganga Nagar Thilagar Street in those years. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are a total of 379 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Ganga Nagar Thilagar Street.

• Gayathri Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Gayathri Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar Thilagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Ganga Nagar Thilagar Street?

The Sub Registrar Office that covers Ganga Nagar Thilagar Street is the Chennai South Joint I 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

Frequently asked questions

What is the current guideline value of Ganga Nagar Thilagar Street?

The current guideline value of Ganga Nagar Thilagar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then back to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 raised it to Rs 2,200 per sq.ft.

What is the land classification for Ganga Nagar Thilagar Street?

The land classification for Ganga Nagar Thilagar Street is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at the current guideline value of Rs 2,200 per sq.ft, the stamp duty is calculated at 7% and the registration fee at 2%. This means for a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,98,000.

Which office handles registrations for Ganga Nagar Thilagar Street?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for Ganga Nagar Thilagar Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.