Guideline Value for Ganesh Nagar 3rd Street

Ganesh Nagar 3rd Street guideline value

The current guideline value of Ganesh Nagar 3rd 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 3rd Street has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 804 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to the current rate of Rs 1,320 per sq.ft in 2024, representing a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 and 2023 revisions indicate a substantial increase of 49% over that period. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village 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 in this area is Rs 1,100 per sq.ft, indicating that Ganesh Nagar 3rd Street's 2024 figure is above that median.

• Ganesh Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to 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 further calculations.

Which Sub Registrar Office covers Ganesh Nagar 3rd Street?

The Ganesh Nagar 3rd 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 an essential factor in property transactions in Kaspapuram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is important for both buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of a transaction. Ensuring compliance with the guideline value helps facilitate a smooth registration process and avoids potential legal issues.

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

How has the guideline value changed over the years?

The guideline value has varied over the years, 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%. The value has also seen significant changes from Rs 804 per sq.ft in 2017 to Rs 1,200 in 2023, marking a 49% increase.

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

Ganesh Nagar 3rd Street is classified as Residential Special Type - III. This classification can affect the types of properties and developments allowed in the area.

Where can I find the Sub Registrar Office for Ganesh Nagar 3rd Street?

The Sub Registrar Office covering Ganesh Nagar 3rd Street is the Tambaram Joint 1 SRO, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Ganesh Nagar 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.