Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

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

How the guideline value of Ganesh Nagar has changed

In the 2007 revision, the guideline value was Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, marking a 43% rise. The value then decreased to Rs 670 per sq.ft in the 2017 revision, a decline of 33%. However, from 2017 to 2023, it saw a significant increase of 49%, bringing the value back to Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

There are no figures available in the register for the years 2002 and 2003 for Ganesh Nagar. Overall, from 2007 to 2024, the guideline value has increased by 43%.

Guideline values in Panchetty

In Panchetty village, there are 46 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft, with the median value being Rs 1,000 per sq.ft. The guideline value for Ganesh Nagar is equal to this median.

• Ganesh Nagar 1st Street: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar Main Street: Rs 1,000 per sq.ft (2024)
• Gnt Road: Rs 1,000 per sq.ft (2024)
• Jayam Nagar: Rs 800 per sq.ft (2024)
• Church Koil Street: Rs 1,000 per sq.ft (2024)
• Church Koil 3rd Street: Rs 1,000 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 would be Rs 10,00,000. The stamp duty is charged at 7%, amounting to Rs 70,000, and the registration fee is 2%, which is Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganesh Nagar?

The Ganesh Nagar area is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Panchetty. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, the guideline value helps determine the legal and financial obligations of both parties. It is crucial for buyers to be aware of this value to understand the potential costs associated with their transactions.

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 changed several times, with the most recent revisions showing an increase from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 and 2024.

What is the stamp duty rate for property in Ganesh Nagar?

The stamp duty rate for property transactions in Ganesh Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ganesh Nagar located?

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

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.