Guideline Value for Ganesh Nagar Extension Part-II

Ganesh Nagar Extension Part-II guideline value

The current guideline value of Ganesh Nagar Extension Part-II is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Ganesh Nagar Extension Part-II has changed

The guideline value for Ganesh Nagar Extension Part-II has undergone several revisions since 2017. In 2017, the guideline value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 61%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the current guideline value for Ganesh Nagar Extension Part-II.

• Ganesh Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Gandhi Street (V.V. Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Extension Part-II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganesh Nagar Extension Part-II?

The Ganesh Nagar Extension Part-II is covered by the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of these values to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Extension Part-II?

The current guideline value of Ganesh Nagar Extension Part-II is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 61%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

Which Sub Registrar Office is responsible for Ganesh Nagar Extension Part-II?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is responsible for Ganesh Nagar Extension Part-II.

What is the land classification for Ganesh Nagar Extension Part-II?

Ganesh Nagar Extension Part-II is classified as Residential Class I Type - I, indicating its designation for residential use within the area.