Guideline Value for Ganes Nagar Extension

Ganes Nagar Extension guideline value

The current guideline value of Ganes Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Ganes Nagar Extension has changed

The guideline value for Ganes Nagar Extension has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017 before rising to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Ganes Nagar Extension's 2024 guideline value aligns with this median.

• Ganga Devi Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar / Sri Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar (G.J.V.): Rs 3,300 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,700 per sq.ft (2024)
• Ganesa Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganes Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganes Nagar Extension?

The Sub Registrar Office that covers Ganes Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value, which is established through the guideline value.

Frequently asked questions

What is the current guideline value of Ganes Nagar Extension?

The current guideline value of Ganes Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 267% over the years.

What is the land classification for Ganes Nagar Extension?

The land classification for Ganes Nagar Extension is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Ganes Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.