Guideline Value for GANESAN NAGAR

Ganesan Nagar guideline value

The current guideline value of Ganesan Nagar, located in Chettipunniyam village, is Rs 900 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Ganesan Nagar has changed

Over the years, the guideline value for Ganesan Nagar has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft. However, the value increased significantly in the subsequent revisions, reaching Rs 900 per sq.ft again in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 900 per sq.ft.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 700 to Rs 4,750 per sq.ft. The median value for these streets is Rs 900 per sq.ft, which is equal to the guideline value of Ganesan Nagar.

• G.K. Avenue: Rs 900 per sq.ft (2024)
• Golden Nagar: Rs 1,000 per sq.ft (2024)
• Hallmark Emerald: Rs 4,750 per sq.ft (2024)
• Hayagreevar Nagar Phase III - Extension: Rs 900 per sq.ft (2024)
• Hygrevar Gardens: Rs 900 per sq.ft (2024)
• Inthira Gandhi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total to Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ganesan Nagar?

The Ganesan Nagar area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Chettipunniyam

The guideline value is a crucial factor in the registration process when buying or selling property in Chettipunniyam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps maintain transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Ganesan Nagar?

The current guideline value of Ganesan Nagar is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 900 per sq.ft in the 2023 and 2024 revisions, while it decreased to Rs 603 per sq.ft in 2017 from Rs 900 per sq.ft in 2012.

What is the land classification for Ganesan Nagar?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 81,000 based on the current guideline value.

Which Sub Registrar Office covers Ganesan Nagar?

The Chengleput Joint II Sub Registrar Office covers Ganesan Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.