Guideline Value for Ganesh Nagar 4th Cross Street

Ganesh Nagar 4th Cross Street guideline value

The current guideline value of Ganesh Nagar 4th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ganesh Nagar 4th Cross Street has changed

The guideline value for Ganesh Nagar 4th Cross Street has seen significant changes over the years. In 2002, the value was Rs 491 per sq.ft, which increased to Rs 665 per sq.ft in 2003, marking a rise of 35%. By 2007, the value had surged to Rs 1,800 per sq.ft, reflecting a substantial increase of 171%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, but this was a decrease of 33% from the previous revision. In 2017, the guideline value rose to Rs 2,345 per sq.ft, and by 2023, it reached Rs 3,500 per sq.ft, resulting in a 49% increase. The latest revision in 2024 has set the value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years between 2002 and 2003, or for any other years not listed. Overall, from 2002 to 2024, the guideline value has increased by 684%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Ganesh Nagar 4th Cross Street's 2024 figure below that median.

• Ganesh Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 2nd Cross Street, Telephone Colony: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that 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 assistance.

Which Sub Registrar Office covers Ganesh Nagar 4th Cross Street?

The Ganesh Nagar 4th Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 4th Cross Street?

The current guideline value of Ganesh Nagar 4th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 491 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 684% over the years.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is higher than the current value of Ganesh Nagar 4th Cross Street.

What are the stamp duty and registration fees for a property in Ganesh Nagar 4th Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Ganesh Nagar 4th Cross Street?

The Velacheri Sub Registrar Office handles the registration for Ganesh Nagar 4th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.