Guideline Value for Ganga Nagar

Ganga Nagar guideline value

The current guideline value of Ganga Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 3,080 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 has changed

The guideline value for Ganga Nagar has seen several revisions over the years. In 2003, the value was Rs 224 per sq.ft, which increased to Rs 500 per sq.ft in 2007. This marked a significant rise of 123%. The value then jumped drastically to Rs 2,800 per sq.ft in 2012, reflecting an increase of 460%. However, it decreased to Rs 1,876 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,800 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 3,080 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1,275%. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as of 2024. The median guideline value in this area is Rs 2,530 per sq.ft, placing Ganga Nagar's 2024 value above this median.

• Ganga Garden: Rs 1,980 per sq.ft (2024)
• Ganesh Nagar: Rs 4,125 per sq.ft (2024)
• Gandhi Street: Rs 3,080 per sq.ft (2024)
• Gandhi Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 4,125 per sq.ft (2024)
• Gokulam Nagar Ext: Rs 2,200 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 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total fees to Rs 2,77,200. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ganga Nagar?

The Sub Registrar Office that covers Ganga Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Kilkattalai, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. The guideline value is regularly revised, reflecting changes in the real estate landscape and ensuring that property values remain aligned with market conditions.

Frequently asked questions

What is the current guideline value of Ganga Nagar?

The current guideline value of Ganga Nagar is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 224 per sq.ft in 2003 to Rs 3,080 per sq.ft in 2024, representing an overall increase of 1,275%.

What is the land classification for Ganga Nagar?

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

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

The Sub Registrar Office for Ganga Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,77,200.