Guideline Value for Ganga Street

Ganga Street guideline value

The current guideline value of Ganga Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ganga Street has changed

Over the years, the guideline value of Ganga Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision, representing a decline of 33%. However, in the 2024 revision, the guideline value increased significantly to Rs 3,300 per sq.ft, marking a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for Ganga Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, meaning that Ganga Street's 2024 figure is below this median.

• Gangai Amman Koil Street (Kaikhankuppam): Rs 3,300 per sq.ft (2024)
• Gokulam Colony: Rs 3,300 per sq.ft (2024)
• Gomathi Nagar - Thiruppavai Street: Rs 3,300 per sq.ft (2024)
• Gandhi Road: Rs 4,950 per sq.ft (2024)
• Gopal Avenue: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganga Street?

The Sub Registrar Office that covers Ganga Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam, 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, which are mandatory costs associated with the transaction.

It is important for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Ganga Street?

The current guideline value of Ganga Street 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 from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification of Ganga Street?

Ganga Street is classified as Residential Class II Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Ganga Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Ganga Street?

The Virugambakkam Sub Registrar Office covers Ganga Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.