Guideline Value for Ganga Nagar Extension

Ganga Nagar Extension guideline value

The current guideline value of Ganga Nagar Extension, located in Moovarasampattu village under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ganga Nagar Extension has changed

The guideline value for Ganga Nagar Extension has undergone several revisions over the years. In 2002, the value was Rs 152 per sq.ft, which increased to Rs 235 per sq.ft in 2003, marking a 55% rise. The value then saw a significant jump to Rs 650 per sq.ft in 2007, reflecting a 177% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, which was a 362% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it stands at Rs 3,300 per sq.ft in 2024, indicating a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2071%. The register has no figure for Ganga Nagar Extension for the years not mentioned in the provided data.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Ganga Nagar Extension.

• Ganga Nagar Main: Rs 3,300 per sq.ft (2024)
• Ganesh Street Main(BALAIYA NAGAR): Rs 3,300 per sq.ft (2024)
• Ganesh Street Cross(BALAIYA NAGAR): Rs 3,300 per sq.ft (2024)
• Gokulam Nagar: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar 1st Main road: Rs 4,400 per sq.ft (2024)
• Gokulam Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 to Rs 2,97,000. It is important to note that the 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 Ganga Nagar Extension?

The Ganga Nagar Extension area is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Moovarasampattu. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recorded at a recognized value.

When a property is sold, the buyer and seller must adhere to the guideline value to determine the applicable fees. This ensures transparency and compliance with local regulations during the property transaction process.

Frequently asked questions

What is the current guideline value of Ganga Nagar Extension?

The current guideline value of Ganga Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 152 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 2071%.

What is the land classification of Ganga Nagar Extension?

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

Where can I find the registration office for Ganga Nagar Extension?

The registration office for Ganga Nagar Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Ganga Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.