Guideline Value for Ganga Nagar

Ganga Nagar guideline value

The current guideline value of Ganga Nagar, located in Perumattu Nellore village, is Rs 500 per sq.ft. This value is set to take effect from 1 July 2024. The land classification for this area is Residential Class I Type - I under the Chengleput Joint II SRO.

How the guideline value of Ganga Nagar has changed

Over the years, the guideline value of Ganga Nagar has seen several revisions. The register indicates that in 2007, the guideline value was Rs 80 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 show that the guideline value remained stable at Rs 500 per sq.ft, reflecting no change from the previous year.

From 2017 to 2023, there was an increase of 49% in the guideline value. The overall change from 2007 to 2024 shows a remarkable increase of 525%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. Ganga Nagar's 2024 figure is below this median.

• Gangapuram: Rs 500 per sq.ft (2024)
• Ganthi Nagar: Rs 800 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 800 per sq.ft (2024)
• Durga Nagar: Rs 700 per sq.ft (2024)
• Islath Nagar: Rs 500 per sq.ft (2024)
• Janakipuram: Rs 700 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, resulting in Rs 35,000, while the registration fee is 2%, amounting to Rs 10,000. Together, the total cost for stamp duty and registration fee would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganga Nagar?

The Sub Registrar Office that covers Ganga Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO online for more details.

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

The guideline value is a critical factor when registering property transactions in Perumattu Nellore. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the property is registered at a fair value, which is crucial for legal and financial purposes. This value helps in determining the applicable taxes and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ganga Nagar?

The current guideline value of Ganga Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 80 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft in 2023 and 2024.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, with Ganga Nagar's 2024 value being below this median.

What are the stamp duty rates for properties in Ganga Nagar?

The stamp duty for properties in Ganga Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ganga Nagar?

The Sub Registrar Office for Ganga Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.