Guideline Value for Ganesh Nagar 3rd Street

Ganesh Nagar 3rd Street guideline value

The current guideline value for Ganesh Nagar 3rd Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the jurisdiction of the Selaiyur SRO, and falls under the Residential Special Type - I land classification.

How the guideline value of Ganesh Nagar 3rd Street has changed

The guideline value for Ganesh Nagar 3rd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 350% increase. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,700 per sq.ft in the 2023 revision, a notable increase of 49% from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 2,900 per sq.ft, which is a 7% increase from the 2023 figure. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 383%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ganesh Nagar 3rd Street above this median value.

• Ganesh Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 4th Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar Silapathikaram Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost for these fees to Rs 2,61,000. 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 3rd Street?

The Ganesh Nagar 3rd Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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 properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the financial obligations associated with the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 3rd Street?

The current guideline value of Ganesh Nagar 3rd Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 2,900 per sq.ft in 2024, marking an overall increase of 383%.

What are the stamp duty and registration fees for property in Ganesh Nagar 3rd Street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,03,000, and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office covers Ganesh Nagar 3rd Street?

The Selaiyur Sub Registrar Office covers Ganesh Nagar 3rd Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Ganesh Nagar 3rd Street?

Ganesh Nagar 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.