Guideline Value for Ganga Nagar

Ganga Nagar guideline value

The current guideline value of Ganga Nagar, located in Thirumudivakkam village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ganga Nagar has changed

Over the years, the guideline value of Ganga Nagar has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 536 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. The 2012 revision had the guideline value at Rs 800 per sq.ft, indicating a decrease of -33% to the 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Ganga Nagar. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Ganga Nagar is below this median.

• Gangai Amman Koil Street: Rs 1,320 per sq.ft (2024)
• Farm Land Layout: Rs 1,320 per sq.ft (2024)
• Harish Nagar Annex: Rs 880 per sq.ft (2024)
• Doshi Firstnest: Rs 1,320 per sq.ft (2024)
• Joyson Nagar (Garden): Rs 1,320 per sq.ft (2024)
• Kalaignar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganga Nagar?

The Sub Registrar Office that covers Ganga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thirumudivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction.

During the registration process, the property cannot be sold for less than the guideline value. This ensures that the government receives adequate revenue from property transactions through stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ganga Nagar?

The current guideline value of Ganga Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, and from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2012. Overall, from 2012 to 2024, the guideline value has increased by 10%.

What are the stamp duty and registration fees for Ganga Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Ganga Nagar?

The Padappai Sub Registrar Office handles registrations for Ganga Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Ganga Nagar?

Ganga Nagar falls under the Residential Class I Type - I land classification, which is designated for residential purposes.