Guideline Value for Ganesa Nagar

Ganesa Nagar guideline value

The current guideline value of Ganesa Nagar, located in Kolathur village under the Sembiam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ganesa Nagar has changed

The guideline value of Ganesa Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 313 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a substantial rise of 219%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a 200% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The 2023 revision saw the value rise again to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 954%. Notably, there is no figure available for the year 2002 in the register 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. The median value for these streets is Rs 3,300 per sq.ft, which matches the guideline value for Ganesa Nagar.

• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar (G.J.V.): Rs 3,300 per sq.ft (2024)
• Ganesh Nagar / Sri Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Ganes Nagar Extension: Rs 3,300 per sq.ft (2024)
• Ganga Devi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesa Nagar

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, bringing the total fees to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesa Nagar?

The Ganesa Nagar area falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the transaction.

Additionally, the guideline value helps ensure transparency in property transactions, providing a standard reference point for buyers and sellers. It is essential to be aware of the current guideline value when engaging in property dealings in the area.

Frequently asked questions

What is the current guideline value of Ganesa Nagar?

The current guideline value of Ganesa Nagar 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 significantly, from Rs 313 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 954% over these years.

What is the land classification for Ganesa Nagar?

Ganesa Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for the Ganesa Nagar area.

How is the stamp duty calculated for property in Ganesa Nagar?

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