Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar in Hastinapuram village is Rs 3,850 per sq.ft, effective from the 2024 revision. This area falls under the Pallavaram SRO and is classified as Mixed Type - II land.

How the guideline value of Ganesh Nagar has changed

Starting from the 2007 revision, the guideline value for Ganesh Nagar was Rs 893 per sq.ft. This value saw a significant increase to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 292%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. The value then increased substantially to Rs 3,500 per sq.ft in the 2023 revision, which was a 49% increase. Currently, the 2024 revision sets the guideline value at Rs 3,850 per sq.ft, representing a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 331%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Ganesh Nagar's 2024 figure above this median.

• Gandhi Street: Rs 2,970 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,650 per sq.ft (2024)
• Gayathri Nagar: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar East Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar North Street: Rs 3,850 per sq.ft (2024)
• Gayathri Nagar South Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total costs together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ganesh Nagar?

Ganesh Nagar is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Hastinapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It helps in assessing the fair value of the property and ensures transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 3,850 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 893 per sq.ft to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 331%.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Mixed Type - II land, which is relevant for determining its guideline value.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Ganesh Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Ganesh Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.