Guideline Value for Ganesan Street

Ganesan Street guideline value

The current guideline value of Ganesan Street in Nesapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Virugambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Ganesan Street has changed

Over the years, the guideline value of Ganesan Street has seen significant changes. The earliest recorded value in 2002 was Rs 129 per sq.ft. This increased to Rs 142 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped to Rs 325 per sq.ft, reflecting a substantial increase of 129%. The 2012 revision recorded the guideline value at Rs 3,000 per sq.ft, which was a notable increase of 823% from the previous revision. However, this figure dropped to Rs 2,010 per sq.ft in 2017, indicating a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 established the current guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2023 figure. There are no recorded figures for Ganesan Street in any other years beyond those listed.

Guideline values in Nesapakkam

Nesapakkam features 148 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value of Ganesan Street.

• E.V.R. Periyar Street(Periyar Nagar): Rs 3,850 per sq.ft (2024)
• Eashwari Street: Rs 3,300 per sq.ft (2024)
• Dr. Khanu Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 8th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesan Street

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

Which Sub Registrar Office covers Ganesan Street?

The Sub Registrar Office that covers Ganesan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue from property transactions.

When a buyer purchases a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Ganesan Street?

The current guideline value of Ganesan Street 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 129 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2458% over the years.

What are the stamp duty and registration fees for properties on Ganesan Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ganesan Street?

The Virugambakkam Sub Registrar Office covers Ganesan Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Ganesan Street?

Ganesan Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.