Guideline Value for Ganga Street

Ganga Street guideline value

The current guideline value of Ganga Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Ganga Street has changed

The guideline value of Ganga Street has seen significant changes over the years. In the 2003 revision, the value was Rs 312 per sq.ft, which increased to Rs 615 per sq.ft in 2007. The following revision in 2017 marked a substantial rise to Rs 1,340 per sq.ft, and by 2023, it reached Rs 2,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, Ganga Street's guideline value has increased by an impressive 605%. It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Ganga Street's 2024 figure below that median.

• Gandhi Street: Rs 2,420 per sq.ft (2024)
• Gandhi Cross Street: Rs 2,420 per sq.ft (2024)
• Errati Malai Srinivasan Street/ Thirumangaialwarpu: Rs 1,320 per sq.ft (2024)
• Guruswamy Nagar Avenue: Rs 2,200 per sq.ft (2024)
• East Mada Veethi: Rs 2,200 per sq.ft (2024)
• East Kulakarai Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganga Street?

The Sub Registrar Office that covers Ganga Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a crucial factor in the registration of property transactions in Thiruneermalai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ganga Street?

The current guideline value of Ganga Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value of Ganga Street has increased from Rs 312 per sq.ft to Rs 2,200 per sq.ft in 2024, marking a total increase of 605% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Ganga Street?

The Pammal Sub Registrar Office covers Ganga Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Ganga Street?

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