Guideline Value for Ganga Devi Nagar

Ganga Devi Nagar guideline value

The current guideline value of Ganga Devi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Ganga Devi Nagar has changed

The guideline value for Ganga Devi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. Following this, the value rose sharply to Rs 3,000 per sq.ft in 2023, and further increased to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Ganga Devi Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current figure for Ganga Devi Nagar.

• Ganes Nagar Extension: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar / Sri Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar (G.J.V.): Rs 3,300 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,700 per sq.ft (2024)
• Ganesa Nagar: Rs 3,300 per sq.ft (2024)
• Ganga Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Devi 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, calculated at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganga Devi Nagar?

The Sub Registrar Office that covers Ganga Devi Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of properties in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganga Devi Nagar?

The current guideline value of Ganga Devi 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 seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is a total increase of 230% over the years.

What is the land classification for Ganga Devi Nagar?

Ganga Devi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with a guideline value of Rs 3,300 per sq.ft include Ganes Nagar Extension, Ganesh Nagar / Sri Ganesh Nagar, Ganesh Nagar (G.J.V.), and Ganesa Nagar.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.