Guideline Value for GANGA NAGAR

Ganga Nagar guideline value

The current guideline value of Ganga Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ganga Nagar has changed

Over the years, the guideline value of Ganga Nagar has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, before rising again to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, while the jump from 2007 to 2012 was a remarkable 400%. Overall, from 2007 to 2024, the guideline value has increased by 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Ganga Nagar.

• Gangaiyamman Nagar: Rs 3,300 per sq.ft (2024)
• Gangai Nagar: Rs 3,300 per sq.ft (2024)
• Glass Factory Road: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Esani Moorthi Koil Street: Rs 3,300 per sq.ft (2024)
• Horizon Appartment: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ganga Nagar?

The Sub Registrar Office that covers Ganga Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvottiyur. It serves as the minimum value for which property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty, which is calculated based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Ganga Nagar?

The current guideline value of Ganga Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

What are the stamp duty rates for property in Ganga Nagar?

The stamp duty for property in Ganga Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registration in Ganga Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for Ganga Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Where can I find more information about guideline values in Thiruvottiyur?

For more detailed information about guideline values in Thiruvottiyur, you can refer to the Registration Department's guideline value register (TNReginet).