Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Menambedu village under the Ambattur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Ganesh Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been no change in the guideline value, maintaining at Rs 1,000 per sq.ft.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, which means that the guideline value for Ganesh Nagar is below this median.

• Gandhi Street (Ward 7) (Elango Nagar): Rs 1,700 per sq.ft (2024)
• Gandhi Street (Gnanamurthy nagar): Rs 1,700 per sq.ft (2024)
• Ganesh Street: Rs 1,700 per sq.ft (2024)
• Ganesh Street 1st Avenue: Rs 1,700 per sq.ft (2024)
• Ganesh Street 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Ganesh Street 2nd Main Street: Rs 1,700 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar falls under the jurisdiction of 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 details.

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

The guideline value is an essential factor in the property registration process in Menambedu. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per the government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and helps in maintaining a standardized value for properties in the region.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft in the 2023 and 2024 revisions. It decreased from Rs 1,000 in 2012 to Rs 670 in 2017 and then increased back to Rs 1,000 in 2023.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties in Ganesh Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

Which office handles property registrations for Ganesh Nagar?

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