Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has undergone several revisions over the years. In 2002, the value was Rs 69 per sq.ft, which increased to Rs 90 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and then it doubled to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The value saw a substantial increase to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,300 per sq.ft.

When examining the changes between the revisions, the value increased by 30% from 2002 to 2003, followed by a remarkable 344% rise from 2003 to 2007. The value then increased by 200% from 2007 to 2012, but decreased by 33% from 2012 to 2017. A significant increase of 49% was noted from 2017 to 2023, and the most recent revision reflects an 8% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1784%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,300 per sq.ft, which is equal to the guideline value for Ganesh Nagar.

• Ganesh nagar 1st street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 1st street (Ganesh nagar): Rs 1,300 per sq.ft (2024)
• Ganesh nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 2nd street (Ganesh nagar): Rs 1,300 per sq.ft (2024)
• Ganesh nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 3rd street (Ganesh nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. 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?

The Ganesh Nagar area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. During registration, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the sale price cannot be lower than the guideline value. This ensures that all transactions are recorded at a fair value, which is essential for maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 69 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 1784%.

What is the land classification for Ganesh Nagar?

Ganesh Nagar falls under the Residential Class I Type - I land classification.

What fees are associated with property transactions in Ganesh Nagar?

The fees for property transactions include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ganesh Nagar located?

The Sub Registrar Office covering Ganesh Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.