Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Ammanambakkam village, under the Chengleput Joint II SRO, and is classified as Mixed Special Type - II.

How the guideline value of Ganesh Nagar has changed

Over the years, the guideline value for Ganesh Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49% from the 2017 revision value of Rs 335 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

As of the 2024 revision, the guideline value remains at Rs 500 per sq.ft, indicating a 0% change from the previous year. Overall, from 2012 to 2024, the guideline value has not changed, remaining constant at Rs 500 per sq.ft.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 16 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 900 per sq.ft, with the median value being Rs 500 per sq.ft. The guideline value for Ganesh Nagar aligns with this median.

• Gopalasamy Nagar: Rs 500 per sq.ft (2024)
• Ilango Nagar: Rs 500 per sq.ft (2024)
• Jayam Nagar: Rs 501 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Lake City: Rs 500 per sq.ft (2024)
• Abi Akshya Nagar: Rs 300 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar falls under the jurisdiction of the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ammanambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps in determining the legal and financial obligations involved in the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 500 per sq.ft in 2024, unchanged from 2023. The value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, marking a 49% increase.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Mixed Special Type - II under the local land classification system.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How is the stamp duty calculated for property in Ganesh Nagar?

Stamp duty for property in Ganesh Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000.