Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ganesh Nagar has changed

Over the years, the guideline value of Ganesh Nagar has seen several revisions. The earliest recorded figure is from 2002, which was Rs 69 per sq.ft. This rose significantly to Rs 328 per sq.ft in 2007, marking an increase of 375%. In 2012, the value was Rs 1,000 per sq.ft, reflecting a 205% increase from the previous revision. The guideline value then dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. However, from 2017 to 2023, the value remained constant at Rs 1,000 per sq.ft, and it has stayed the same from 2023 to 2024 as well, with no percentage change.

It is noteworthy that the register has no figure for Ganesh Nagar in 2003. Overall, from 2002 to 2024, the guideline value has increased by 1349%, reaching the current rate of Rs 1,000 per sq.ft.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Ganesh Nagar is below this median.

• Gandhi Street: Rs 1,500 per sq.ft (2024)
• Gandhi Nagar 1to 3 Streets: Rs 1,500 per sq.ft (2024)
• Ganapathy Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Ganapathy Nagar: Rs 2,000 per sq.ft (2024)
• Ezhil Avenue: Rs 1,000 per sq.ft (2024)
• Govindarajpuram: Rs 1,500 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 at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total charges Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ganesh Nagar?

The Sub Registrar Office that covers Ganesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. To learn more about other offices, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property 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 of Ganesh Nagar changed over the years?

The guideline value has changed from Rs 69 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, showing an overall increase of 1349% over the years.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Residential Class II Type - I.

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 10,00,000, the total fees would be Rs 90,000.

Where is the Sub Registrar Office for Ganesh Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.