Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vadakal village under the Sriperumpudur SRO, classified as Residential Special Type - II.

How the guideline value of Ganesh Nagar has changed

Over the years, the guideline value of Ganesh Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2024 revision. In the 2017 revision, the value was Rs 335 per sq.ft, reflecting a decrease of 33% from the 2012 figure. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft, which was maintained in the 2023 revision as well. The 2024 revision also retains this value, showing no change from the previous year.

The register has no figures for the revisions in 2002, 2003, and 2007 for this street. Thus, the guideline values from 2012, 2017, 2023, and 2024 are the only recorded figures for Ganesh Nagar.

Guideline values in Vadakal

In Vadakal village, there are 31 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value is Rs 300 per sq.ft, indicating that Ganesh Nagar's 2024 figure of Rs 500 per sq.ft is above this median.

• Green Housing Phase - III: Rs 300 per sq.ft (2024)
• Green Park: Rs 300 per sq.ft (2024)
• Iswaryam Nagar: Rs 800 per sq.ft (2024)
• Colony Street: Rs 150 per sq.ft (2024)
• Jemi Garden Phase III: Rs 400 per sq.ft (2024)
• Kaivalyam Nagar: Rs 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ganesh Nagar?

The Ganesh Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Vadakal. It serves as the basis for calculating stamp duty and registration fees when buying or selling properties. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that the appropriate taxes are collected based on the property's worth.

Frequently asked questions

What is the current guideline value of Ganesh Nagar?

The current guideline value of Ganesh Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024. There were no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification of Ganesh Nagar?

Ganesh Nagar is classified as Residential Special Type - II, indicating its designation for residential development.

What are the stamp duty rates applicable in Ganesh Nagar?

The stamp duty rate in Ganesh Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ganesh Nagar?

The Sub Registrar Office covering Ganesh Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.