Guideline Value for IGP GANESH NAGAR

Igp Ganesh Nagar guideline value

The current guideline value of Igp Ganesh Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Igp Ganesh Nagar has changed

The guideline value for Igp Ganesh Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, placing Igp Ganesh Nagar's 2024 figure above this median.

• Hussian Garden: Rs 1,100 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,700 per sq.ft (2024)
• Irattai Malai Srinivasan Street: Rs 1,700 per sq.ft (2024)
• Jagajeevanram Salai: Rs 3,300 per sq.ft (2024)
• Govindaraj Garden: Rs 1,100 per sq.ft (2024)
• Jamela Begum Garden: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Igp Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Igp Ganesh Nagar?

The Sub Registrar Office that covers Igp Ganesh Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor used during property registration in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Igp Ganesh Nagar?

The current guideline value of Igp Ganesh Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Igp Ganesh Nagar?

Igp Ganesh Nagar is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 2,800 per sq.ft, the total fees would be Rs 2,52,000.