Guideline Value for Ganesh Nagar Main Road

Ganesh Nagar Main Road guideline value

The current guideline value of Ganesh Nagar Main Road is Rs 4,400 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 - II.

How the guideline value of Ganesh Nagar Main Road has changed

Over the years, the guideline value of Ganesh Nagar Main Road has seen several revisions. The earliest available figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. In 2023, the value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 figure to the 2024 figure shows a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Ganesh Nagar Main Road.

• Ganesh Nagar Main Road (Telephone Colony): Rs 4,400 per sq.ft (2024)
• Ganesh Nagar Main (ML Nagar): Rs 4,400 per sq.ft (2024)
• Ganesh Nagar (Nethaji Road/Street, /Pillaiyar Koils Street Extn): Rs 4,400 per sq.ft (2024)
• Ganesh Nagar Extn: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar Ranganathan Street: Rs 3,850 per sq.ft (2024)
• Ganesh Nagar Extension 3rd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar Main Road?

The Ganesh Nagar Main Road is covered by 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 is used to determine the stamp duty and registration fees payable during the registration of property. Buyers and sellers must be aware of the current guideline value to ensure that they meet the legal requirements for property transactions.

When a property is sold, the guideline value serves as a benchmark for assessing the value of the property, which can affect the overall transaction process. It is essential for both parties to understand how this value influences the costs associated with buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Main Road?

The current guideline value of Ganesh Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Ganesh Nagar Main Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Ganesh Nagar Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Ganesh Nagar Main Road?

Ganesh Nagar Main Road is classified as Residential Class II Type - II, indicating its suitability for residential development.