Guideline Value for GANGAI NAGAR

Gangai Nagar guideline value

The current guideline value of Gangai Nagar, located in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Gangai Nagar has changed

The guideline value for Gangai Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 400% rise. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The subsequent 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, there has been a substantial increase of 450%.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. The 2024 guideline value of Rs 3,300 per sq.ft aligns with the median value of Rs 3,300 per sq.ft for the 177 streets in Thiruvottiyur under the Thiruvottiyur SRO.

Guideline values in Thiruvottiyur

In Thiruvottiyur, the guideline values range from Rs 1,300 to Rs 8,600 per sq.ft, with the median value being Rs 3,300 per sq.ft. Gangai Nagar's 2024 figure matches this median value.

• Gangaiyamman Nagar: Rs 3,300 per sq.ft (2024)
• Ganga 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)
• Ennore Express Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total 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 Gangai Nagar?

The Sub Registrar Office covering Gangai 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 when registering property in Thiruvottiyur. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for calculating the applicable taxes. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gangai Nagar?

The current guideline value of Gangai 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 increased 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 is the land classification for Gangai Nagar?

The land classification for Gangai Nagar is Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions in Gangai Nagar?

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

Where is the Sub Registrar Office for Gangai Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.