Guideline Value for GANESAN / MOHAN GARDEN

Ganesan / Mohan Garden guideline value

The current guideline value of Ganesan / Mohan Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Ganesan / Mohan Garden has changed

The guideline value for Ganesan / Mohan Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,700 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 13% in the guideline value.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, which is equal to the current value of Ganesan / Mohan Garden.

• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Gandhi Salai: Rs 3,300 per sq.ft (2024)
• Ganesh Ram Garden: Rs 1,100 per sq.ft (2024)
• Gandhi Nagar Co-Opearative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan / Mohan Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. 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 further calculations.

Which Sub Registrar Office covers Ganesan / Mohan Garden?

The Ganesan / Mohan Garden area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Chemmancheri, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is essentially the minimum value set by the government for property transactions in the area, ensuring that the property is not undervalued during registration.

It is important for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. The registration process requires that the property be registered at or above the guideline value, which helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Ganesan / Mohan Garden?

The current guideline value of Ganesan / Mohan Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,700 per sq.ft in 2024, with various revisions in between showing fluctuations.

Which Sub Registrar Office covers Ganesan / Mohan Garden?

The Neelankarai Sub Registrar Office covers Ganesan / Mohan Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for properties in Ganesan / Mohan Garden?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,53,000 in fees.

What is the land classification for Ganesan / Mohan Garden?

The land classification for Ganesan / Mohan Garden is Residential Class IV Type - I, indicating its use for residential purposes.