Guideline Value for Ganesh Nagar 5th Street

Ganesh Nagar 5th Street guideline value

The current guideline value of Ganesh Nagar 5th 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 5th Street has changed

The guideline value for Ganesh Nagar 5th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register does not contain figures for the years 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 2024 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, making the 2024 figure for Ganesh Nagar 5th Street 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 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 5th 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, and the registration fee at 2% would be Rs 26,400, bringing the total 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar 5th Street?

The Sub Registrar Office that covers Ganesh Nagar 5th 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 plays a crucial role 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. Buyers and sellers often use this value to assess the fair pricing of properties in the area.

When a property is sold, the registration office uses the guideline value to calculate applicable fees, including stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Ganesh Nagar 5th Street?

The current guideline value of Ganesh Nagar 5th 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 is the land classification for Ganesh Nagar 5th Street?

The land classification for Ganesh Nagar 5th Street is Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Ganesh Nagar 5th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ganesh Nagar 5th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.