Guideline Value for Ganesh Nagar 4thstreet

Ganesh Nagar 4thstreet guideline value

The current guideline value of Ganesh Nagar 4thstreet is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village under the Tambaram Joint 1 SRO, classified as Residential Special Type - III.

How the guideline value of Ganesh Nagar 4thstreet has changed

The guideline value for Ganesh Nagar 4thstreet has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and finally rose to Rs 1,320 per sq.ft in the 2024 revision. Notably, there are no recorded figures for this street in the years 2002, 2003, and 2007.

Examining the changes between these revisions, we see that from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Kaspapuram

In Kaspapuram, there are 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 4thstreet's 2024 figure above this median.

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

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, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ganesh Nagar 4thstreet?

The Ganesh Nagar 4thstreet falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within 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 when buying or selling property in Kaspapuram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the minimum value on which stamp duty is calculated. This means that even if the sale price is lower than the guideline value, the duty will be assessed based on the guideline value.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 4thstreet?

The current guideline value of Ganesh Nagar 4thstreet 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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Ganesh Nagar 4thstreet?

Ganesh Nagar 4thstreet is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

How is stamp duty calculated for properties in Ganesh Nagar 4thstreet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 92,400.

Which office handles property registrations for Ganesh Nagar 4thstreet?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Ganesh Nagar 4thstreet, located at No.26, Mes Road, East Tambaram, Chennai-600059.