Guideline Value for GANESH NAGAR EXTENSION

Ganesh Nagar Extension guideline value

The current guideline value of Ganesh Nagar Extension is Rs 2,900 per sq.ft. This area is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - II.

How the guideline value of Ganesh Nagar Extension has changed

Over the years, the guideline value for Ganesh Nagar Extension has seen significant changes. The earliest recorded revision was in 2007, where the guideline value was Rs 375 per sq.ft. This figure remained until the next revision in 2012, which also recorded Rs 2,700 per sq.ft. The 2023 revision maintained the same value of Rs 2,700 per sq.ft, but in 2024, the guideline value increased to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

Notably, the increase from 2007 to 2012 was substantial, with a rise of 620%. Overall, from 2007 to 2024, the guideline value has increased by 673%. It is important to mention that the register does not have figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value among these streets is Rs 2,500 per sq.ft, placing Ganesh Nagar Extension's 2024 guideline value above this median.

• Ganesh Nagar: Rs 2,900 per sq.ft (2024)
• Gangai Amman Koil Street (Korattur): Rs 1,600 per sq.ft (2024)
• Gangai Amman Koil Streets (Kallikuppam): Rs 2,500 per sq.ft (2024)
• Gangaiamman Nagar: Rs 2,500 per sq.ft (2024)
• GANGAI NAGAR (All Inner Side Streets): Rs 2,500 per sq.ft (2024)
• Gangai Nagar Annai Therea Street: Rs 2,500 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 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the 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.

Which Sub Registrar Office covers Ganesh Nagar Extension?

The Ganesh Nagar Extension area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that they are consistent and transparent.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Extension?

The current guideline value of Ganesh Nagar Extension is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 375 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 673%.

What is the land classification for Ganesh Nagar Extension?

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

Where can I find the registration office for Ganesh Nagar Extension?

The registration office covering Ganesh Nagar Extension is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Ganesh Nagar Extension?

Stamp duty for properties in Ganesh Nagar Extension is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.