Guideline Value for Ganesh Nagar & Street

Ganesh Nagar & Street guideline value

The current guideline value of Ganesh Nagar & Street in Konnur village under the Konnur SRO is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Ganesh Nagar & Street has changed

Over the years, the guideline value for Ganesh Nagar & Street has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,800 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 9%. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value is Rs 3,800 per sq.ft, which is equal to the current value of Ganesh Nagar & Street.

• Gandhi Street: Rs 6,000 per sq.ft (2024)
• Gandhi Nagar: Rs 2,750 per sq.ft (2024)
• G.K.M. Colony 25th Street Sathyavani Muthu Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 26th Street Kennadi Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 27th Street Punitha Sahayamatha Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 28th Street Anantha Balavinayagar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar & Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. 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 more details.

Which Sub Registrar Office covers Ganesh Nagar & Street?

The Ganesh Nagar & Street area is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Konnur. It is used to calculate the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ganesh Nagar & Street?

The current guideline value of Ganesh Nagar & Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, reflecting a 9% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Ganesh Nagar & Street?

Ganesh Nagar & Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.