Guideline Value for GANESH NAGAR 2 ND STREET

Ganesh Nagar 2 Nd Street guideline value

The current guideline value of Ganesh Nagar 2 Nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ganesh Nagar 2 Nd Street has changed

The guideline value for Ganesh Nagar 2 Nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later revised to Rs 1,340 per sq.ft in 2017. This marked a decrease of 33%. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, making the current value of Ganesh Nagar 2 Nd Street below that median.

• Ganesh Nagar 1 St Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 3 Rd Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 4 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 5 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 6 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar 2 Nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar 2 Nd Street?

The Sub Registrar Office that covers Ganesh Nagar 2 Nd Street is 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized property value.

When a property is sold, the guideline value helps determine the official value of the transaction, which is necessary for legal documentation and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 2 Nd Street?

The current guideline value of Ganesh Nagar 2 Nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Ganesh Nagar 2 Nd Street?

Ganesh Nagar 2 Nd Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ganesh Nagar 2 Nd Street?

The Sub Registrar Office for Ganesh Nagar 2 Nd Street is located at Neelankarai Sub Registrar Office, 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Ganesh Nagar 2 Nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.