Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Vilingiyambakkam village under the Avadi SRO, is Rs 1,310 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and currently, it stands at Rs 1,310 per sq.ft as per the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 9%. Overall, from 2007 to 2024, the guideline value has increased by 102%. The changes reflect fluctuations in the property market and local developments.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Ganesh Nagar is above this median.

• Gandhi Street Thiruvalluvar Nagar: Rs 935 per sq.ft (2024)
• Gandhi Nagar (West): Rs 1,625 per sq.ft (2024)
• Gandhi Nagar (M.T.H.Road Northern Side): Rs 1,625 per sq.ft (2024)
• Gandhi Nagar: Rs 1,625 per sq.ft (2024)
• Gandhi 2nd Cross St: Rs 1,625 per sq.ft (2024)
• Gandhi 1st Cross St: Rs 1,625 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 1,310 per sq.ft, the total guideline value amounts to Rs 13,10,000. The stamp duty at 7% would be Rs 91,700, and the registration fee at 2% would be Rs 26,200, bringing the total to Rs 1,17,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Vilingiyambakkam. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, both the buyer and seller must consider the guideline value for calculating stamp duty and registration fees. This ensures compliance with local regulations and helps avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 1,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 1,310 per sq.ft in 2024, reflecting an overall increase of 102% over the years.

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

The stamp duty for properties in Ganesh Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

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

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

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.