Guideline Value for GANESH NAGAR 4 TH STREET

Ganesh Nagar 4 Th Street guideline value

The current guideline value of Ganesh Nagar 4 Th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, falling under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ganesh Nagar 4 Th Street has changed

Over the years, the guideline value of Ganesh Nagar 4 Th Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. This was followed by a significant increase of 49% to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the value by 10% to Rs 2,200 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Ganesh Nagar 4 Th Street is below this median.

• 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 3 Rd Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 7 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 8,9,10,11,12 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 2 Nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar 4 Th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that 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 more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Ganesh Nagar 4 Th Street?

The Ganesh Nagar 4 Th Street 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 Okkiyamthuraipakkam

The guideline value is a critical factor in property transactions in Okkiyamthuraipakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. This process helps maintain transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 4 Th Street?

The current guideline value of Ganesh Nagar 4 Th 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 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49%, and from 2012 to 2017, it decreased by 33%.

What is the land classification for Ganesh Nagar 4 Th Street?

Ganesh Nagar 4 Th Street is classified as Residential Class II Type - III under the Neelankarai SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Ganesh Nagar 4 Th Street?

The Neelankarai Sub Registrar Office covers Ganesh Nagar 4 Th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.