Guideline Value for GANESH NAGAR 2ND STREET

Ganesh Nagar 2nd Street guideline value

The current guideline value of Ganesh Nagar 2nd Street is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Ganesh Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 7,500 per sq.ft, which then decreased to Rs 5,025 per sq.ft in 2017. Following this, the value increased significantly to Rs 7,500 per sq.ft in 2023, and then further to the current rate of Rs 8,250 per sq.ft in 2024, marking a 10% increase from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are as follows: from 2017 to 2023, there was a 49% increase, while from 2012 to 2017, the value decreased by 33%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value for Ganesh Nagar 2nd Street is below this median.

• Ganesh Nagar 1st Street: Rs 8,250 per sq.ft (2024)
• Ganesh Nagar: Rs 8,250 per sq.ft (2024)
• Gangaiamman Koil Street (Bharathiar Nagar): Rs 7,150 per sq.ft (2024)
• Gangai Street: Rs 11,000 per sq.ft (2024)
• Ganapathy 6th Street Avvai Nagar: Rs 7,150 per sq.ft (2024)
• Ganapathy 5th Street Avvai Nagar: Rs 7,150 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, making the total charges Rs 7,42,500. 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 2nd Street?

The Sub Registrar Office that covers Ganesh Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected charges during the registration process.

Frequently asked questions

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

The current guideline value of Ganesh Nagar 2nd Street is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,250 per sq.ft in 2024.

What is the land classification for Ganesh Nagar 2nd Street?

Ganesh Nagar 2nd Street is classified as Residential Class II Type - I.

What are the other streets in Thiruvanmiyur with similar guideline values?

Other streets in Thiruvanmiyur include Ganesh Nagar 1st Street and Ganesh Nagar, both at Rs 8,250 per sq.ft, as well as Gangai Street at Rs 11,000 per sq.ft.

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

The Sub Registrar Office for Ganesh Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.