Guideline Value for Ganesh nagar 1st street (Ganesh nagar)

Ganesh nagar 1st street (Ganesh nagar) guideline value

The current guideline value of Ganesh nagar 1st street (Ganesh nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Ganesh nagar 1st street (Ganesh nagar) has changed

The guideline value for Ganesh nagar 1st street (Ganesh nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33% before rising again to Rs 1,200 per sq.ft in 2023, an increase of 49%. The current guideline value is Rs 1,300 per sq.ft from the 2024 revision, which is an 8% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 225%.

Guideline values in Ayappakkam

Ayappakkam village has a total of 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, which matches the 2024 figure for Ganesh nagar 1st street (Ganesh nagar).

• Ganesh nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 1st street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 2nd street (Ganesh nagar): Rs 1,300 per sq.ft (2024)
• Ganesh nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Ganesh nagar 3rd street (Ganesh nagar): Rs 1,300 per sq.ft (2024)
• Ganesh Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesh nagar 1st street (Ganesh nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost would be Rs 1,17,000. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh nagar 1st street (Ganesh nagar)?

The Ganesh nagar 1st street (Ganesh nagar) falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Ayappakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the property transaction process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganesh nagar 1st street?

The current guideline value of Ganesh nagar 1st street (Ganesh nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 400 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking a total increase of 225% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Ganesh nagar 1st street?

The Ambattur Sub Registrar Office covers Ganesh nagar 1st street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Ganesh nagar 1st street?

Ganesh nagar 1st street is classified as Residential Class I Type - I, indicating its suitability for residential development.