Guideline Value for GANGAIYAMMAN NAGAR

Gangaiyamman Nagar guideline value

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

How the guideline value of Gangaiyamman Nagar has changed

The guideline value for Gangaiyamman Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking an increase of 650%. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 brought the value to Rs 3,300 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Thiruvottiyur

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

• Ganga 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 Gangaiyamman 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total amount for stamp duty and registration fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gangaiyamman Nagar?

The Sub Registrar Office that covers Gangaiyamman 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 serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications involved in the transaction. It is essential for buyers to be informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Gangaiyamman Nagar?

The current guideline value of Gangaiyamman 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 multiple times, starting from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the median guideline value in Thiruvottiyur?

The median guideline value for streets in Thiruvottiyur is Rs 3,300 per sq.ft, which is the same as the guideline value for Gangaiyamman Nagar.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registration in Gangaiyamman Nagar?

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