Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

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

How the guideline value of Ganesh Nagar has changed

Over the years, the guideline value for Ganesh Nagar has seen several revisions. The 2007 revision recorded a guideline value of Rs 250 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 469 per sq.ft. The guideline value then rose to Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 180%. The jump from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023 represents a 49% increase. The 2012 to 2017 revision saw a decrease of 33%, while the substantial increase of 180% from 2007 to 2012 reflects a significant change in the guideline value during that period.

Guideline values in Pariri

In Pariri village, there are eight streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 1,000 per sq.ft, with the median being Rs 700 per sq.ft. Ganesh Nagar's 2024 figure aligns with this median.

• Elumalai Nagar: Rs 700 per sq.ft (2024)
• Jeeva Nagar: Rs 1,000 per sq.ft (2024)
• Barathi Nagar: Rs 700 per sq.ft (2024)
• Arunachala Nagar: Rs 700 per sq.ft (2024)
• Parasakthi Nagar: Rs 700 per sq.ft (2024)
• Sri Baba 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 is calculated at 7%, resulting in Rs 49,000, while the registration fee at 2% comes to Rs 14,000. Together, the total cost for stamp duty and registration fee is Rs 63,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

The Sub Registrar Office that covers Ganesh Nagar is 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 Pariri

The guideline value is a critical factor in the property registration process in Pariri. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure transparency and fairness in the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

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 has the guideline value changed over the years?

The guideline value has changed several times, with the most recent figure being Rs 700 per sq.ft since 2023. The value has increased from Rs 250 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, marking an overall increase of 180%.

What are the other streets in Pariri with their guideline values?

Other streets in Pariri include Elumalai Nagar and Barathi Nagar, both at Rs 700 per sq.ft, and Jeeva Nagar at Rs 1,000 per sq.ft, among others. The guideline values for these streets range from Rs 700 to Rs 1,000 per sq.ft.

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

Stamp duty for properties in Ganesh Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 700 per sq.ft incurs a stamp duty of Rs 49,000.

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

The Sub Registrar Office for Ganesh Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations in the area.