Guideline Value for Ganesh nagar 2nd street

Ganesh nagar 2nd street guideline value

The current guideline value of Ganesh nagar 2nd street is Rs 1,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of Ganesh nagar 2nd street has changed

Over the years, the guideline value of Ganesh nagar 2nd street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which then increased significantly to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in the 2017 revision. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,300 per sq.ft in 2024. The changes between these revisions include a +200% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and an +8% increase from 2023 to 2024.

The overall change from the 2007 revision to the 2024 revision is +225%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

Ayappakkam village has a total of 221 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which is the same as the guideline value for Ganesh nagar 2nd street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganesh nagar 2nd street?

The Ganesh nagar 2nd street falls under 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 details.

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

The guideline value is a crucial factor in property transactions in Ayappakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. Accurate knowledge of the guideline value helps in understanding the financial obligations involved in property dealings.

Frequently asked questions

What is the current guideline value of Ganesh nagar 2nd street?

The current guideline value of Ganesh nagar 2nd street is Rs 1,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

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

What are the stamp duty and registration fees for properties in Ganesh nagar 2nd street?

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 2nd street?

The Ambattur Sub Registrar Office covers Ganesh nagar 2nd street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Ganesh nagar 2nd street?

Ganesh nagar 2nd street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.