Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen several revisions over the years. In 2002, the value was Rs 35 per sq.ft, which increased to Rs 78 per sq.ft in 2003, marking a significant rise of 123%. The value continued to rise, reaching Rs 100 per sq.ft in 2007, an increase of 28%. Following this, the value jumped to Rs 300 per sq.ft in 2012, reflecting a 200% increase. However, it then decreased to Rs 201 per sq.ft in 2017, a decline of 33%. The trend reversed again, with the value increasing to Rs 300 per sq.ft in 2023, and finally reaching Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 843%. There are no figures available for any revisions other than those listed for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the current guideline value of Ganesh Nagar.

• GAYATHIRI AVENUE Annex/Annex Ext/ ALL PHASES: Rs 330 per sq.ft (2024)
• GAYATHRI AVENUE/Extension: Rs 330 per sq.ft (2024)
• Gayathri Nagar: Rs 330 per sq.ft (2024)
• Gms Nagar: Rs 330 per sq.ft (2024)
• Golden Nagar: Rs 330 per sq.ft (2024)
• E.V.R. Periyar Nagar: Rs 330 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

The Ganesh Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is valid and complies with local regulations.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 35 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, which is an increase of 843% over the years.

What is the land classification for Ganesh Nagar?

Ganesh Nagar falls under the Residential Special Type - II land classification.

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

The Thiruvottiyur Sub Registrar Office covers Ganesh Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Ganesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at 7%.