Guideline Value for GANESH RAM NAGAR

Ganesh Ram Nagar guideline value

The current guideline value of Ganesh Ram Nagar is Rs 226 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Ganesh Ram Nagar has changed

The guideline value for Ganesh Ram Nagar has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 225 per sq.ft. In 2017, it increased to Rs 151 per sq.ft, marking a decrease of 33%. However, by 2023, the value rose significantly by 50% to Rs 226 per sq.ft, which remained unchanged in the 2024 revision.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Therefore, the most recent revisions are from 2012, 2017, 2023, and 2024, with the current value standing at Rs 226 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making Ganesh Ram Nagar's current value below that median.

• Gandhi Nagar: Rs 250 per sq.ft (2024)
• Gokul Garden: Rs 502 per sq.ft (2024)
• Ellappa Nagar: Rs 250 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Kalavathi Nagar: Rs 200 per sq.ft (2024)
• Kansanbai Nagar: Rs 502 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, totaling Rs 20,340. 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 Ram Nagar?

Ganesh Ram Nagar falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor in property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent for all parties involved.

Frequently asked questions

What is the current guideline value of Ganesh Ram Nagar?

The current guideline value of Ganesh Ram Nagar is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in both 2023 and 2024.

What is the land classification for Ganesh Ram Nagar?

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

Where is the Manavalanagar Sub Registrar Office located?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 15,820 at 7% of the guideline value.