Guideline Value for Ganesh Nagar 1st Street

Ganesh Nagar 1st Street guideline value

The current guideline value of Ganesh Nagar 1st Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Ganesh Nagar 1st Street has changed

The guideline value for Ganesh Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in 2017. In 2023, the value increased to Rs 2,700 per sq.ft, before rising again to Rs 2,900 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 7% increase. Overall, the guideline value has increased by 7% from 2012 to 2024.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, indicating that Ganesh Nagar 1st Street's 2024 figure is above this median.

• Ganesh Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 4th Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar Silapathikaram Street: Rs 2,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees to Rs 2,61,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar 1st Street?

The Sub Registrar Office that covers Ganesh Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction.

Frequently asked questions

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

The current guideline value of Ganesh Nagar 1st Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Ganesh Nagar 1st Street?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which office handles property registrations for Ganesh Nagar 1st Street?

The Selaiyur Sub Registrar Office handles property registrations for Ganesh Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Ganesh Nagar 1st Street?

Ganesh Nagar 1st Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.