Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Karanodai village under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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 guideline value was Rs 329 per sq.ft, which increased significantly to Rs 35 per sq.ft in 2003. Following this, there was a dramatic rise to Rs 700 per sq.ft in 2007, and by 2012, it had reached Rs 1,500 per sq.ft. The value then decreased to Rs 1,005 per sq.ft in 2017, before climbing to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. The increase from 2007 to 2012 was 114%, while the rise from 2003 to 2007 was a remarkable 1,900%. Overall, from 2002 to 2024, the guideline value has increased by 402%.

Guideline values in Karanodai

Karanodai village features 38 streets under the Redhills SRO, with guideline values ranging from Rs 440 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, positioning Ganesh Nagar above this median.

• Ganga Nagar: Rs 550 per sq.ft (2024)
• Ganapathy Nagar: Rs 440 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)
• Eswaran Nagar: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 440 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,210 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty charged at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganesh Nagar?

The Sub Registrar Office that covers Ganesh Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the authorities. This helps in maintaining transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 329 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Ganesh Nagar?

The registration office for Ganesh Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in Ganesh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.

What are the other streets in Karanodai with their guideline values?

Other streets in Karanodai include Ganga Nagar at Rs 550 per sq.ft, Ganapathy Nagar at Rs 440 per sq.ft, Gnt Road at Rs 1,650 per sq.ft, Eswaran Nagar at Rs 1,650 per sq.ft, Dr. Ambedkar Street at Rs 440 per sq.ft, and Dharmaraja Koil Street at Rs 1,210 per sq.ft.