Guideline Value for GANESH NAGAR-(78/1B1PART)

Ganesh Nagar-(78/1b1part) guideline value

The current guideline value of Ganesh Nagar-(78/1b1part) is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Siruvanoor village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ganesh Nagar-(78/1b1part) has changed

The guideline value for Ganesh Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 250 per sq.ft. The 2017 revision recorded a lower value of Rs 167 per sq.ft, marking a decrease of 33% from the 2012 figure. In contrast, from 2017 to 2023, there was an increase of 50% back to Rs 250 per sq.ft. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 250 per sq.ft.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Thus, the changes in guideline value are only reflected in the revisions from 2012, 2017, 2023, and 2024.

Guideline values in Siruvanoor

In Siruvanoor, there are 18 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 900 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Ganesh Nagar-(78/1b1part) aligns with this median at Rs 250 per sq.ft.

• Ganesh Nagar: Rs 250 per sq.ft (2024)
• J.J. Nagar & Annex: Rs 100 per sq.ft (2024)
• L.V.S. Nagar: Rs 100 per sq.ft (2024)
• Abirami Garden: Rs 400 per sq.ft (2024)
• Ponsakthi Nagar: Rs 200 per sq.ft (2024)
• Senthil Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar-(78/1b1part)

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, leading to a total of Rs 22,500. 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 further calculations.

Which Sub Registrar Office covers Ganesh Nagar-(78/1b1part)?

The Sub Registrar Office covering Ganesh Nagar-(78/1b1part) is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruvanoor. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

Additionally, the guideline value serves as a benchmark for property transactions in the area. It helps in establishing a fair value for properties, ensuring that both buyers and sellers have a clear understanding of the property's worth based on the latest revisions from the Registration Department.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar-(78/1b1part) is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has remained at Rs 250 per sq.ft, except for a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023.

Which office handles registrations for Ganesh Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Ganesh Nagar-(78/1b1part), located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What are the stamp duty rates for properties in Ganesh Nagar?

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

What is the land classification for Ganesh Nagar?

The land classification for Ganesh Nagar-(78/1b1part) is Residential Class II Type - III, indicating its suitability for residential development.