Guideline Value for Ganesaburam

Ganesaburam guideline value

The current guideline value of Ganesaburam, located in Varadarajapuram village under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Ganesaburam has changed

The guideline value of Ganesaburam has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 1,100%. However, in 2017, it decreased to Rs 1,206 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 1,800 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, indicating a 10% increase from 2023.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,220%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which means Ganesaburam's 2024 figure is above that median.

• Garden City: Rs 1,100 per sq.ft (2024)
• Garden City Extension: Rs 1,100 per sq.ft (2024)
• Gajalakshmi Nagar @ Marvel County: Rs 1,320 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Fortune Residency: Rs 1,650 per sq.ft (2024)
• Girija Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesaburam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. Please note that 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 Ganesaburam?

The Sub Registrar Office that covers Ganesaburam is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganesaburam?

The current guideline value of Ganesaburam 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 increased from Rs 150 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1,220%.

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

The stamp duty is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Ganesaburam?

The Padappai Sub Registrar Office handles property registrations in Ganesaburam, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Ganesaburam?

Ganesaburam is classified as Residential Special Type - I, indicating its suitability for residential development.