Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Ganesh Nagar's 2024 figure below this median.

• Ganga Nagar: Rs 880 per sq.ft (2024)
• Gajalakshmi Nagar Part: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar Annex - II: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,430 per sq.ft (2024)
• F.M City: Rs 550 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total costs to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Manimangalam A. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers should be aware of the current guideline value to ensure that transactions are conducted fairly and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,70,000, the total stamp duty and registration fees would amount to Rs 69,300.

Where is the Sub Registrar Office for Ganesh Nagar located?

The Padappai Sub Registrar Office, which covers Ganesh Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Ganesh Nagar?

Ganesh Nagar is classified as Residential Class II Type - I, indicating its designation for residential use within the Padappai SRO jurisdiction.