Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Ganesh Nagar has changed

The guideline value of Ganesh Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023 and further rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, indicating that Ganesh Nagar's 2024 figure is below this median.

• Ganesh Nagar 1 St Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 2 Nd Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 3 Rd Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 4 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 5 Th Street: Rs 2,200 per sq.ft (2024)
• Ganesh Nagar 6 Th Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar?

The Sub Registrar Office that covers Ganesh Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then rising to Rs 2,000 per sq.ft in 2023 and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Okkiyamthuraipakkam with the same guideline value?

Other streets in Okkiyamthuraipakkam that share the same guideline value of Rs 2,200 per sq.ft include Ganesh Nagar 1 St Street, Ganesh Nagar 2 Nd Street, Ganesh Nagar 3 Rd Street, Ganesh Nagar 4 Th Street, Ganesh Nagar 5 Th Street, and Ganesh Nagar 6 Th Street.

How is stamp duty calculated in Ganesh Nagar?

Stamp duty in Ganesh Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

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

The Sub Registrar Office for Ganesh Nagar is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find more details online.