Guideline Value for Ganesh Nagar 2nd Street

Ganesh Nagar 2nd Street guideline value

The current guideline value of Ganesh Nagar 2nd 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. The land classification for this area is Residential Special Type - III.

How the guideline value of Ganesh Nagar 2nd Street has changed

The guideline value for Ganesh Nagar 2nd Street has seen 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 decreased to Rs 804 per sq.ft. The value then increased significantly to Rs 1,200 per sq.ft in 2023, before rising to Rs 1,320 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The latest revision from 2023 to 2024 reflects a 10% rise. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values 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 2nd Street's 2024 figure above this median.

• Ganesh Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 4thstreet: 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total Rs 1,18,800. 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 2nd Street?

The Sub Registrar Office that covers Ganesh Nagar 2nd Street is 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, ensuring transparency in property transactions.

When a buyer purchases property, the guideline value influences the calculation of stamp duty and registration fees. This ensures that both the buyer and seller are aware of the official value assigned to the property, which aids in fair dealings.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 2nd Street?

The current guideline value of Ganesh Nagar 2nd 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the other streets in Kaspapuram with similar guideline values?

Other streets in Kaspapuram with the same guideline value of Rs 1,320 per sq.ft in 2024 include Ganesh Nagar 1st Street, Ganesh Nagar 3rd Street, Ganesh Nagar 4thstreet, Ganesh Nagar 5th Street, and Ganesh Nagar 6th Street.

What is the registration fee for property in Ganesh Nagar 2nd Street?

The registration fee for property in Ganesh Nagar 2nd Street is calculated based on the guideline value. For instance, for a property valued at Rs 13,20,000, the registration fee would be Rs 26,400.

Which office handles registrations for Ganesh Nagar 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ganesh Nagar 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.