Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This demonstrates a consistent upward trend in the guideline value over the recent years.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with the median value being Rs 550 per sq.ft. The guideline value of Ganesh Nagar aligns with this median.

• Gandhi Road (Ward 6): Rs 1,320 per sq.ft (2024)
• G.K.C.Nagar: Rs 550 per sq.ft (2024)
• ESWARAN KOVIL ST (North, South & East): Rs 1,320 per sq.ft (2024)
• Gururagavendhira Nagar: Rs 550 per sq.ft (2024)
• Guru Street: Rs 1,320 per sq.ft (2024)
• Harilakshmi Nagar: 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. 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?

The Sub Registrar Office covering Ganesh Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Minjur. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a specific percentage. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 550 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 550 per sq.ft in 2024, reflecting a 64% overall increase during this period.

What are the stamp duty rates applicable in Ganesh Nagar?

The stamp duty rate in Ganesh Nagar is 7% on the guideline value or the sale price, whichever is higher.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.