Guideline Value for Ganabathy Nagar (or) Golden Nagar

Ganabathy Nagar (or) Golden Nagar guideline value

The current guideline value of Ganabathy Nagar (or) Golden Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village and falls under the Ambattur SRO. The land classification for this region is Residential Class II Type - II.

How the guideline value of Ganabathy Nagar (or) Golden Nagar has changed

The guideline value for Ganabathy Nagar (or) Golden Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 49 per sq.ft. This figure increased significantly to Rs 70 per sq.ft in 2003, marking a rise of 43%. The value then saw a dramatic jump to Rs 500 per sq.ft in 2007, which was a 614% increase. In 2012, the guideline value was Rs 1,400 per sq.ft, reflecting a 180% increase from the previous revision. However, it decreased to Rs 938 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 1,400 per sq.ft in 2023, before reaching the current rate of Rs 1,500 per sq.ft in 2024, which is a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2961%. The register has no figures for revisions in years other than those specified.

Guideline values in Kathirvedu

In Kathirvedu village, there are 78 streets under the Ambattur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, which is equal to the current figure for Ganabathy Nagar (or) Golden Nagar. Below are the guideline values for other streets in Kathirvedu:

• Essaiya Street: Rs 1,100 per sq.ft (2024)
• Gandhi Street: Rs 1,100 per sq.ft (2024)
• Erattaimalai Srinivasan Street: Rs 1,300 per sq.ft (2024)
• Elumalai Nagar: Rs 1,300 per sq.ft (2024)
• Green View(Tamil Nadu Officiers Co-Operative Housing Society): Rs 1,600 per sq.ft (2024)
• Co-Operative Nagar (Government Co-Op Nagar): Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganabathy Nagar (or) Golden Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganabathy Nagar (or) Golden Nagar?

The Sub Registrar Office that covers Ganabathy Nagar (or) Golden Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Ganabathy Nagar (or) Golden Nagar?

The current guideline value of Ganabathy Nagar (or) Golden Nagar is Rs 1,500 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 49 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an increase of 2961% over this period.

What is the land classification for Ganabathy Nagar (or) Golden Nagar?

The land classification for Ganabathy Nagar (or) Golden Nagar is Residential Class II Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Where is the Sub Registrar Office for Ganabathy Nagar (or) Golden Nagar located?

The Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.