Guideline Value for GANESH NAGAR (WARD -19)

Ganesh Nagar (Ward -19) guideline value

The current guideline value of Ganesh Nagar (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Ganesh Nagar (Ward -19) has changed

Over the years, the guideline value for Ganesh Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained the same until the 2017 revision, where it dropped to Rs 402 per sq.ft. The subsequent 2023 revision increased the value to Rs 600 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 660 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

When examining the changes, the value increased by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Ganesh Nagar's 2024 value below this median.

• Gangaiamman Koil Street (Ward -17): Rs 660 per sq.ft (2024)
• Ganpathypuram (Sa): Rs 990 per sq.ft (2024)
• Ganthi Nagar (Pa): Rs 440 per sq.ft (2024)
• Gnanambigai Street (Ward -17): Rs 660 per sq.ft (2024)
• Ganapathy Syndicate(Pa): Rs 440 per sq.ft (2024)
• Ganapathy Nagar (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar (Ward -19)?

The Ganesh Nagar (Ward -19) area falls under 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 Ninna Karai

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Nagar (Ward -19)?

The current guideline value of Ganesh Nagar (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Ganesh Nagar (Ward -19)?

Ganesh Nagar (Ward -19) is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated in Ganesh Nagar (Ward -19)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.