Guideline Value for Ganga Nagar Main

Ganga Nagar Main guideline value

The current guideline value for Ganga Nagar Main in Moovarasampattu village, under the Alandur SRO, is Rs 3,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Ganga Nagar Main has changed

The guideline value for Ganga Nagar Main has seen significant changes over the years. In 2003, the guideline value was Rs 167 per sq.ft, which rose to Rs 650 per sq.ft in 2007. The value then increased dramatically to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. Following this, the value surged to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,876%. The register has no figure for this street in 2002.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that have 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 matches the guideline value for Ganga Nagar Main.

• Ganga Nagar Extension: 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 Main

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 cost for these fees to 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 additional calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganga Nagar Main?

The Sub Registrar Office covering Ganga Nagar Main is 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 plays a crucial role in the property registration process in Moovarasampattu. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value for Ganga Nagar Main?

The current guideline value for Ganga Nagar Main 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 significantly from Rs 167 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,876%.

What is the land classification for Ganga Nagar Main?

Ganga Nagar Main is classified as Residential Class I Type - I.

What other streets in Moovarasampattu have the same guideline value?

Other streets in Moovarasampattu with the same guideline value of Rs 3,300 per sq.ft include Ganga Nagar Extension, Ganesh Street Main(BALAIYA NAGAR), and Ganesh Street Cross(BALAIYA NAGAR).

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.