Guideline Value for GANESH NAGAR EXTENSION

Ganesh Nagar Extension guideline value

The current guideline value of Ganesh Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ganesh Nagar Extension has changed

The guideline value for Ganesh Nagar Extension has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision sets the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the current value of Ganesh Nagar Extension above that median.

• Ganesh Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Gangadharan Thottam: Rs 1,700 per sq.ft (2024)
• Gangaiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Gangai Amman Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Gangaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar Extension?

The Ganesh Nagar Extension 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. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Extension?

The current guideline value of Ganesh Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Ganesh Nagar Extension?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ganesh Nagar Extension?

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

What is the land classification for Ganesh Nagar Extension?

Ganesh Nagar Extension is classified as Residential Class II Type - I, which indicates its suitability for residential development.