Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar in Vellanoor-2 village is Rs 555 per sq.ft, effective from 1 July 2024. This area falls under the Avadi SRO and is classified as Residential Class I Type - I.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen several revisions over the years. In the 2017 revision, the value was Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The current value of Rs 555 per sq.ft in the 2024 revision reflects an increase of 11% from the 2023 figure. Overall, from 2017 to 2024, there has been a significant increase of 66% in the guideline value.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate that from 2017 to 2023, there was a 49% increase in the guideline value, demonstrating a steady rise over the years.

Guideline values in Vellanoor-2

In Vellanoor-2, there are 31 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 1,800 per sq.ft. The median value for these streets is Rs 555 per sq.ft, which is equal to the guideline value of Ganesh Nagar.

• Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 555 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 555 per sq.ft (2024)
• Chelliyamman Nagar Phase - I: Rs 440 per sq.ft (2024)
• Bhavani Nagar: Rs 555 per sq.ft (2024)
• Kannappa Garden: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 555 per sq.ft, the total guideline value amounts to Rs 5,55,000. The stamp duty at 7% would be Rs 38,850, and the registration fee at 2% would be Rs 11,100, resulting in a total of Rs 49,950. 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?

Ganesh Nagar is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Vellanoor-2

The guideline value is a crucial factor in the registration process of property transactions in Vellanoor-2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering property, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 555 per sq.ft in 2024, marking an overall increase of 66% over this period.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Residential Class I Type - I.

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

The Sub Registrar Office covering Ganesh Nagar is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property in Ganesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 5,55,000, the stamp duty would be Rs 38,850 at 7%, along with a registration fee of Rs 11,100 at 2%.