Guideline Value for GANESH NAGAR

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III 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 the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This value decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,800 per sq.ft. The current revision in 2024 has further raised the guideline value to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Ganesh Nagar. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with guideline values in 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Ganesh Nagar's 2024 figure below that median.

• Gandhi Salai: Rs 1,960 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Friends Avenue Annex: Rs 3,850 per sq.ft (2024)
• Friends Avenue: Rs 1,980 per sq.ft (2024)
• Gopal Nagar: Rs 2,750 per sq.ft (2024)
• Gopal Nagar 1 To 5 Streets: Rs 1,980 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

The Ganesh Nagar area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What are the other guideline values in Nanmangalam?

Other streets in Nanmangalam have guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft.

What is the stamp duty rate in Ganesh Nagar?

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

Where is the Sub Registrar Office for Ganesh Nagar located?

The Pallavaram Sub Registrar Office, which covers Ganesh Nagar, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.