Guideline Value for Ganesh Nagar 1st Street

Ganesh Nagar 1st Street guideline value

The current guideline value of Ganesh Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - III.

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 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. In the following years, the value increased significantly, reaching Rs 1,200 per sq.ft in the 2023 revision, and then rising again to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Ganesh Nagar 1st Street's 2024 figure above that median.

• Ganesh Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• Indra Gandhi Street: Rs 550 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganesh Nagar 1st Street?

The Ganesh Nagar 1st Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kaspapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, a rise of 10%. Overall, from 2012 to 2024, the value has increased by 10%.

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

Ganesh Nagar 1st Street is classified as Residential Special Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Ganesh Nagar 1st Street?

The Tambaram Joint 1 Sub Registrar Office covers Ganesh Nagar 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.