Guideline Value for Gangai nagar

Gangai nagar guideline value

The current guideline value of Gangai nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. It is located in Poonthamallee village, under the Poonamallee SRO, and classified as Residential Class I Type - I.

How the guideline value of Gangai nagar has changed

The guideline value for Gangai nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 733%. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and further increased to Rs 2,740 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 813%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median of Rs 2,200 per sq.ft. Gangai nagar's 2024 figure is above this median.

• Gangaikondaanmandappa veethi: Rs 2,740 per sq.ft (2024)
• Ganga nagar: Rs 2,740 per sq.ft (2024)
• 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)
• Gopalapuram: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,740 per sq.ft, the guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, totaling Rs 2,46,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee 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 factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately in the official records. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Gangai nagar?

The current guideline value of Gangai 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 significantly from Rs 300 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of 813% over the years.

What is the land classification for Gangai nagar?

Gangai nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gangai nagar?

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

How is stamp duty calculated for properties in Gangai nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,40,000, the stamp duty would be calculated at 7% of this amount.