Guideline Value for GANGAI AMMAN NAGAR

Gangai Amman Nagar guideline value

The current guideline value of Gangai Amman Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Oorakadam village and falls under the jurisdiction of the Walajabad SRO. The land classification for this locality is Residential Class II Type - II.

How the guideline value of Gangai Amman Nagar has changed

The guideline value for Gangai Amman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision saw a decrease to Rs 268 per sq.ft, marking a significant drop of 33% from the previous figure. From 2017 to 2023, the value increased by 49%, bringing it back to Rs 400 per sq.ft. Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Overall, from the 2012 revision to the current 2024 revision, the guideline value has remained stable at Rs 400 per sq.ft, indicating no change over this period. The consistency in the value from 2023 to 2024 reflects a steady state in the guideline value for this area.

Guideline values in Oorakadam

Gangai Amman Nagar is part of the Oorakadam locality, which has seen consistent guideline values. The current rate for other streets in Oorakadam is as follows:

• Vigneshwarapuram: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty, charged at 7%, would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000. Together, these fees would total Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Amman Nagar?

The Sub Registrar Office covering Gangai Amman Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Oorakadam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees are aligned with the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gangai Amman Nagar?

The current guideline value of Gangai Amman Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gangai Amman Nagar has remained at Rs 400 per sq.ft since 2012, with a drop to Rs 268 per sq.ft in 2017, followed by an increase back to Rs 400 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Gangai Amman Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 36,000.

Which office handles property registrations in Gangai Amman Nagar?

The Walajabad Sub Registrar Office handles property registrations for Gangai Amman Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value used during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is the higher of the guideline value or the sale price that is considered for calculating these fees.