Guideline Value for Ganesh Nagar Nethaji Street

Ganesh Nagar Nethaji Street guideline value

The current guideline value of Ganesh Nagar Nethaji Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ganesh Nagar Nethaji Street has changed

The guideline value for Ganesh Nagar Nethaji Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Ganesh Nagar Nethaji Street is above this median.

• Ganesh Nagar Rajaji Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Thiruvalluvar Street: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Cheran Street: Rs 2,700 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Ganesh Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees would total 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar Nethaji Street?

The Ganesh Nagar Nethaji Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded at a standard value set by the government.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must be aware of this value, as it affects the overall costs involved in the registration process, including the applicable fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ganesh Nagar Nethaji Street?

The current guideline value of Ganesh Nagar Nethaji Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase from then to 2023.

What is the land classification for Ganesh Nagar Nethaji Street?

Ganesh Nagar Nethaji Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Ganesh Nagar Nethaji Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.