Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Thiruvanmiyur village, is Rs 8,250 per sq.ft. This value is effective from 1 July 2024 and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II 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 2002, the value was Rs 916 per sq.ft, which increased to Rs 1,014 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 3,000 per sq.ft in 2007, resulting in a 196% increase. Following this, the value increased to Rs 7,500 per sq.ft in 2012, reflecting a 150% rise. However, from 2012 to 2017, the value decreased to Rs 5,025 per sq.ft, a decline of 33%. The value then rose sharply to Rs 7,500 per sq.ft in 2023, a 49% increase, and finally reached Rs 8,250 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 801%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value for Ganesh Nagar is below this median.

• Ganesh Nagar 1st Street: Rs 8,250 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 8,250 per sq.ft (2024)
• Gangaiamman Koil Street (Bharathiar Nagar): Rs 7,150 per sq.ft (2024)
• Gangai Street: Rs 11,000 per sq.ft (2024)
• Ganapathy 6th Street Avvai Nagar: Rs 7,150 per sq.ft (2024)
• Ganapathy 5th Street Avvai Nagar: Rs 7,150 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 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total to Rs 7,42,500. 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 Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal ownership transfer.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a standardized value, which can help in maintaining transparency in the real estate market. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 916 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 801% over this period.

What are the other streets in Thiruvanmiyur with similar guideline values?

Other streets in Thiruvanmiyur with similar guideline values include Ganesh Nagar 1st Street and Ganesh Nagar 2nd Street, both at Rs 8,250 per sq.ft in 2024.

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

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500 and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500.

Which office handles the registration for Ganesh Nagar?

The registration for Ganesh Nagar is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.