Guideline Value for Ganesh Nagar Extension 1st Cross Street

Ganesh Nagar Extension 1st Cross Street guideline value

The current guideline value of Ganesh Nagar Extension 1st 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 Extension 1st Cross Street has changed

The guideline value for Ganesh Nagar Extension 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 3,500 per sq.ft. In 2024, the value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

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 among these streets is Rs 4,400 per sq.ft, placing Ganesh Nagar Extension 1st Cross Street's 2024 figure below that median.

• Ganesh Nagar Extension 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar Extension 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar Cross Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar Extn: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar Main (ML Nagar): Rs 4,400 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Extension 1st 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, making the total cost for these fees Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganesh Nagar Extension 1st Cross Street?

The Ganesh Nagar Extension 1st 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 further assistance.

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

The guideline value is an essential figure used during property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Extension 1st Cross Street?

The current guideline value of Ganesh Nagar Extension 1st 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 changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The value remained unchanged at Rs 3,500 per sq.ft from 2012 to 2023.

What are the guideline values of other streets in Velachery?

Other streets in Velachery have varying guideline values. For example, Ganesh Nagar Main (ML Nagar) and Ganesh Nagar Main Road are valued at Rs 4,400 per sq.ft in 2024, while several Ganesh Nagar streets are at Rs 3,850 per sq.ft.

What fees are associated with buying property in Ganesh Nagar Extension 1st Cross Street?

When buying property in Ganesh Nagar Extension 1st Cross Street, you will incur stamp duty and registration fees based on the guideline value. For instance, for a 1,000 sq.ft plot, the total fees could amount to Rs 3,46,500.

Where can I find the Sub Registrar Office for Ganesh Nagar Extension 1st Cross Street?

The Sub Registrar Office covering Ganesh Nagar Extension 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.