Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. This area falls under Residential Class II Type - I land classification.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 250 per sq.ft. This value increased significantly to Rs 2,100 per sq.ft in 2012, marking a substantial rise of 740%. However, it then decreased to Rs 1,407 per sq.ft in 2017, reflecting a drop of 33%. Following this, the value rose again to Rs 2,100 per sq.ft in 2023, and then to Rs 2,310 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 824%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is equal to the current guideline value of Ganesh Nagar. Below are the guideline values for other streets in Perungalathur:

• Gandhi Street: Rs 1,980 per sq.ft (2024)
• Gangadharan Theru: Rs 1,650 per sq.ft (2024)
• Gandhi Road: Rs 2,310 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,960 per sq.ft (2024)
• Gandhi Nagar: Rs 3,960 per sq.ft (2024)
• Ganapathy Road: Rs 2,640 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 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, together totaling Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ganesh Nagar?

The Sub Registrar Office that covers Ganesh Nagar is 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 Perungalathur

The guideline value is a crucial factor in the registration of property transactions in Perungalathur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the financial obligations involved in the registration process. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

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

For a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which office handles registrations for Ganesh Nagar?

The Padappai Sub Registrar Office handles registrations for Ganesh Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Ganesh Nagar?

Ganesh Nagar falls under the Residential Class II Type - I land classification as per the registration guidelines.