Guideline Value for Ganesh Nagar

Ganesh Nagar guideline value

The current guideline value of Ganesh Nagar, located in Vadakal_B village under the Sriperumpudur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Ganesh Nagar has changed

The guideline value for Ganesh Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which remained unchanged in the 2023 revision. As of the 2024 revision, the guideline value has been updated to Rs 500 per sq.ft, marking a significant increase of 49% from the 2017 figure.

From 2023 to 2024, there has been no change in the guideline value, remaining at Rs 500 per sq.ft. Additionally, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vadakal_B

In Vadakal_B, there are 34 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 1,900 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Ganesh Nagar 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, together totaling Rs 45,000. 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 details.

Which Sub Registrar Office covers Ganesh Nagar?

The Ganesh Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vadakal_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the 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 500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased by 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2024. There was no change from 2023 to 2024.

What is the land classification for Ganesh Nagar?

Ganesh Nagar is classified as Residential Special Type - II. This classification impacts the guideline value and its application in property transactions.

How is stamp duty calculated for properties 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 5,00,000, the stamp duty would be Rs 35,000 at a rate of 7%.

Which office handles property registration for Ganesh Nagar?

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