Guideline Value for Ganesh Nagar 1st Main Road

Ganesh Nagar 1st Main Road guideline value

The current guideline value of Ganesh Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Ganesh Nagar 1st Main Road has changed

The guideline value for Ganesh Nagar 1st Main Road has undergone significant changes over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 2,680 per sq.ft. The most recent revision in 2024 shows an increase to Rs 4,400 per sq.ft, marking a change of +64% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Thus, the only revisions available are from 2017 and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value across these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Ganesh Nagar 1st Main Road.

• Ganesh Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 2nd Cross Street, Telephone Colony: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar 1st Main Road?

The Ganesh Nagar 1st Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It is used to determine the applicable stamp duty and registration fees, which are essential for completing the transaction legally.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 1st Main Road?

The current guideline value of Ganesh Nagar 1st Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value changed from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, which is a change of +64%.

Are there any years with no recorded guideline value for this street?

Yes, there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Ganesh Nagar 1st Main Road.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Ganesh Nagar 1st Main Road?

The Velacheri Sub Registrar Office handles the registration for Ganesh Nagar 1st Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.