Guideline Value for Ganga nagar

Ganga nagar guideline value

The current guideline value of Ganga nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village and falls under the Poonamallee SRO. The land classification is Residential Class I Type - I.

How the guideline value of Ganga nagar has changed

The guideline value of Ganga nagar has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,740 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 813%.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, making Ganga nagar's 2024 figure above this median.

• Ganganagar Kalinger Karunanethi Street: Rs 2,740 per sq.ft (2024)
• Ganganagar Main Street: Rs 2,740 per sq.ft (2024)
• Ganga Nagar M.P.C Street: Rs 2,740 per sq.ft (2024)
• Gangai nagar: Rs 2,740 per sq.ft (2024)
• Gangaikondaanmandappa veethi: Rs 2,740 per sq.ft (2024)
• Gopalapuram: 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 2,740 per sq.ft, the total guideline value would be Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would amount to Rs 54,800, totaling Rs 2,46,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Ganga nagar?

The Sub Registrar Office that covers Ganga nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial component in the property registration process in Poonthamallee. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ganga nagar?

The current guideline value of Ganga nagar is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, marking an overall increase of 813% over the years.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft for the year 2024.

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

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

Where is the Sub Registrar Office located for Ganga nagar?

The Sub Registrar Office for Ganga nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.