Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Ponneri village under the Ponneri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ganesh Nagar has changed

Over the years, the guideline value of Ganesh Nagar has seen significant changes. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 300 per sq.ft, which was followed by a substantial increase to Rs 700 per sq.ft in the 2024 revision, marking a change of +133%.

The current figure of Rs 700 per sq.ft is equal to the median guideline value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO, which range from Rs 201 to Rs 1,200 per sq.ft in 2024.

Guideline values in Ponneri

In Ponneri, the guideline values for various streets reflect a range of Rs 201 to Rs 1,200 per sq.ft. Ganesh Nagar's guideline value sits at the median of this range. Below are the guideline values for other streets in Ponneri:

• Gajalakshmi Nagar: Rs 900 per sq.ft (2024)
• Friendship Street: Rs 700 per sq.ft (2024)
• Golden Avenue: Rs 700 per sq.ft (2024)
• Ettiyamman Kovil Street: Rs 700 per sq.ft (2024)
• Gtm Garden: Rs 900 per sq.ft (2024)
• G.V.N. Nagar: Rs 700 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 further calculations.

Which Sub Registrar Office covers Ganesh Nagar?

The Ganesh Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Ponneri. 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 to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions within the area.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting a change of +133%.

What is the land classification of Ganesh Nagar?

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

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.

How are stamp duty and registration fees calculated in Ganesh Nagar?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 63,000.