Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Jeganathapuram village under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as 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. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 400 per sq.ft, but it saw a significant decrease of 75% in the 2024 revision, bringing it down to Rs 100 per sq.ft.

This drastic change from Rs 400 per sq.ft in 2023 to Rs 100 per sq.ft in 2024 reflects a notable adjustment in the valuation of properties in this area. The current figure aligns with the median guideline value for the seven streets in Jeganathapuram that have a 2024 figure, which ranges from Rs 100 to Rs 1,500 per sq.ft.

Guideline values in Jeganathapuram

In Jeganathapuram, there are seven streets under the Ponneri SRO that carry a 2024 guideline value, with Ganesh Nagar's value being Rs 100 per sq.ft, equal to the median of Rs 100 per sq.ft. The other streets in Jeganathapuram are as follows:

• Madhavan Nagar: Rs 100 per sq.ft (2024)
• Mars Royal City: Rs 1,000 per sq.ft (2024)
• Sai Kirupa Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 100 per sq.ft (2024)
• Jayadev: Rs 1,500 per sq.ft (2024)
• Kshetra: Rs 1,493 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. 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 detailed calculations.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Jeganathapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2024 revision showing a decrease from Rs 400 per sq.ft in 2023 to Rs 100 per sq.ft. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What are the other streets in Jeganathapuram?

Other streets in Jeganathapuram include Madhavan Nagar, Mars Royal City, Sai Kirupa Nagar, Sri Nagar, Jayadev, and Kshetra, with guideline values ranging from Rs 100 to Rs 1,500 per sq.ft in 2024.

What are the fees for registering property in Ganesh Nagar?

The registration fees for property in Ganesh Nagar include a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,000 based on the current guideline value.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can also find your specific SRO through the provided link.