Guideline Value for Gangai Nagar

Gangai Nagar guideline value

The current guideline value of Gangai Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area is located in Urapakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Gangai Nagar has changed

Over the years, the guideline value of Gangai Nagar has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft. The most recent 2023 revision has restored the guideline value to Rs 1,200 per sq.ft.

In terms of percentage changes, the value increased by 20% from 2007 to 2012, then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2023, the guideline value has increased by 20%. It is important to note that there are no figures for the years 2002, 2003, and 2024 for this street in the register.

Guideline values in Urapakkam

Currently, there are no specific guideline values available for other streets in Urapakkam under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Gangai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gangai Nagar?

The Sub Registrar Office that covers Gangai Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Urapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gangai Nagar?

The current guideline value of Gangai Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023. The value was Rs 1,200 per sq.ft in 2012 and Rs 1,000 per sq.ft in 2007.

What is the stamp duty rate for properties in Gangai Nagar?

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

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Is there a guideline value for other streets in Urapakkam?

Currently, there are no specific guideline values available for other streets in Urapakkam under the Gooduvancheri SRO.