Guideline Value for GanGan Thotti Ward No.13 Door No.1-20

GanGan Thotti Ward No.13 Door No.1-20 guideline value

The current guideline value for GanGan Thotti Ward No.13 Door No.1-20 is Rs 660 per sq.ft. This property is located in Old Gummidipoondi village, under the Gummidipoondi SRO, and is classified as Residential Class II Type - I.

How the guideline value of GanGan Thotti Ward No.13 Door No.1-20 has changed

Since the 2002 revision, the guideline value has seen significant changes. The value started at Rs 81 per sq.ft in 2002, increased to Rs 98 per sq.ft in 2003, and then surged to Rs 400 per sq.ft in 2007. Following that, it rose to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017. In 2023, the value was Rs 600 per sq.ft, and the latest revision in 2024 set it at Rs 660 per sq.ft.

The changes between revisions are notable. From 2002 to 2003, there was a 21% increase. The value then skyrocketed by 308% from 2003 to 2007. Following a 50% increase from 2007 to 2012, the value dropped by 33% from 2012 to 2017. There was a 49% increase from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 715%.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, which is the same as the guideline value for GanGan Thotti Ward No.13 Door No.1-20.

• G.N.T Road Ward No.5 Door No.1-28 Railway Gate to Vettu Colony: Rs 660 per sq.ft (2024)
• G.N.T Road Ward No.6 Door No.1-134B Vettu Colony to Travellers Bungalow: Rs 660 per sq.ft (2024)
• G.N.T Road Ward No.7 Door No.135-214 A Travellers Baungalow to Ganapathy Theatre: Rs 1,210 per sq.ft (2024)
• G.N.T Road Ward No.8 Door No.215-274 Ganapathy Theatre to Rettambedu: Rs 880 per sq.ft (2024)
• G.N.T. Road Ward No.9 Door No.275-329c Rettambedu to Thervali: Rs 880 per sq.ft (2024)
• Gorimedu Ward Ward No.13 Door No.1-20: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in GanGan Thotti Ward No.13 Door No.1-20

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers GanGan Thotti Ward No.13 Door No.1-20?

The GanGan Thotti Ward No.13 Door No.1-20 property falls under the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property in the eyes of the law.

Frequently asked questions

What is the current guideline value for GanGan Thotti Ward No.13 Door No.1-20?

The current guideline value for GanGan Thotti Ward No.13 Door No.1-20 is Rs 660 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 81 per sq.ft in 2002 to Rs 660 per sq.ft in 2024, reflecting a total increase of 715% over this period.

What is the role of the Gummidipoondi SRO?

The Gummidipoondi SRO is responsible for maintaining the guideline value register and overseeing property registrations in the area, ensuring that all transactions comply with local regulations.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, these fees can be significant.

Where can I find more information about the registration process?

For more information about the registration process and to find your SRO, you can visit the relevant sections on the official website.