Guideline Value for Ganesh Nagar (G.J.V.)

Ganesh Nagar (G.J.V.) guideline value

The current guideline value of Ganesh Nagar (G.J.V.) 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 Ganesh Nagar (G.J.V.) has changed

The guideline value for Ganesh Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 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. The value saw a substantial rise to Rs 3,000 per sq.ft in 2023 and has now reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a remarkable 200%. Overall, from 2007 to 2024, the guideline value has increased by 230%. Notably, there are no figures for Ganesh Nagar in the revisions for 2002 and 2003.

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. The guideline value for Ganesh Nagar (G.J.V.) aligns with this median.

• Ganesh Nagar / Sri Ganesh Nagar: 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)
• 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 Ganesh Nagar (G.J.V.)

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 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 further assistance.

Which Sub Registrar Office covers Ganesh Nagar (G.J.V.)?

The Sub Registrar Office that covers Ganesh Nagar (G.J.V.) is 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 plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar (G.J.V.)?

The current guideline value of Ganesh Nagar (G.J.V.) 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification of Ganesh Nagar (G.J.V.)?

Ganesh Nagar (G.J.V.) is classified as 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 the stamp duty calculated for properties in Ganesh Nagar (G.J.V.)?

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