Guideline Value for GANAPATHI NAGAR (EXTN.)

Ganapathi Nagar (Extn.) guideline value

The current guideline value of Ganapathi Nagar (Extn.) is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Ganapathi Nagar (Extn.) has changed

The guideline value for Ganapathi Nagar (Extn.) has seen several revisions over the years. Starting from Rs 98 per sq.ft in 2002, it increased to Rs 116 per sq.ft in 2003, marking an 18% rise. The value then surged significantly to Rs 400 per sq.ft in 2007, which was a 245% increase. Following this, the guideline value reached Rs 1,500 per sq.ft in 2012, reflecting a 275% rise from the previous revision. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023 and then to Rs 1,650 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 1584%. It is important to note that there are no figures in the register for the years not mentioned in this article.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Ganapathi Nagar (Extn.).

• Ganapathi Nagar / Ganapathi Synticate Colony: Rs 1,650 per sq.ft (2024)
• Ganapathipuram: Rs 1,650 per sq.ft (2024)
• Ganapathipuram 1st Main Road: Rs 2,200 per sq.ft (2024)
• Ganapathypuram 1st Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar (Extn.)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges Rs 1,48,500. 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 information.

Which Sub Registrar Office covers Ganapathi Nagar (Extn.)?

The Ganapathi Nagar (Extn.) area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must ensure that the sale price is not lower than the guideline value. This ensures that the government receives appropriate revenue from the transaction, based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar (Extn.)?

The current guideline value of Ganapathi Nagar (Extn.) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 98 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1584% over this period.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is the same as the current value for Ganapathi Nagar (Extn.).

What are the stamp duty and registration fees for property in Ganapathi Nagar (Extn.)?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Ganapathi Nagar (Extn.)?

The Chennai South Joint I Sub Registrar Office covers Ganapathi Nagar (Extn.), located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.