Guideline Value for GANGANAGAR MAIN STREET

Ganganagar Main Street guideline value

The current guideline value of Ganganagar Main Street is Rs 2,740 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village and falls under the Poonamallee SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ganganagar Main Street has changed

The guideline value for Ganganagar Main Street has seen several revisions over the years. The most recent revision, effective from 1 July 2024, sets the value at Rs 2,740 per sq.ft, which is an increase of 10% from the previous year's value of Rs 2,500 per sq.ft in 2023. Looking back further, the value rose significantly from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2012, marking a 49% increase over that period. It is noteworthy that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase, reflecting the current value of Rs 2,740 per sq.ft.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values for 2024 ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ganganagar Main Street's 2024 guideline value above this median.

• Ganga Nagar M.P.C Street: Rs 2,740 per sq.ft (2024)
• Ganganagar Kalinger Karunanethi Street: Rs 2,740 per sq.ft (2024)
• Ganga nagar: Rs 2,740 per sq.ft (2024)
• Gangai nagar: Rs 2,740 per sq.ft (2024)
• Gangaikondaanmandappa veethi: Rs 2,740 per sq.ft (2024)
• Gopalapuram: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganganagar Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, while the registration fee at 2% would be Rs 54,800, bringing the total fees to Rs 2,46,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ganganagar Main Street?

The Sub Registrar Office that covers Ganganagar Main Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Poonthamallee. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property, it is essential to understand that the guideline value may influence the overall transaction costs, as the duty is applied to the higher of the guideline value or the sale price. This ensures that all parties are aware of the financial implications involved in the property transaction.

Frequently asked questions

What is the current guideline value of Ganganagar Main Street?

The current guideline value of Ganganagar Main Street is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,740 per sq.ft in 2024, with several revisions in between, including Rs 2,500 per sq.ft in 2023 and 2012.

What is the land classification for Ganganagar Main Street?

The land classification for Ganganagar Main Street is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Ganganagar Main Street?

The registration office for Ganganagar Main Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Ganganagar Main Street?

Stamp duty for properties in Ganganagar Main Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,91,800.