Guideline Value for GANAPATHI NAGAR (WARD -15)

Ganapathi Nagar (Ward -15) guideline value

The current guideline value for Ganapathi Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ganapathi Nagar (Ward -15) has changed

The guideline value for Ganapathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Ganapathi Nagar (Ward -15) below this median at Rs 660 per sq.ft.

• Ganapathi Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Ganapathi Puram Kattankolathur (Ward -17): Rs 550 per sq.ft (2024)
• Ganapathy Colony (Sa): Rs 440 per sq.ft (2024)
• Ganapathy Nagar (Kr): Rs 660 per sq.ft (2024)
• Ganapathy Nagar (Sa): Rs 440 per sq.ft (2024)
• Ganapathy Syndicate(Pa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the 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 Ganapathi Nagar (Ward -15)?

The Sub Registrar Office that covers Ganapathi Nagar (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these charges are based on the higher of the guideline value or the actual sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar (Ward -15)?

The current guideline value of Ganapathi Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Ganapathi Nagar (Ward -15)?

Ganapathi Nagar (Ward -15) is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Ganapathi Nagar (Ward -15)?

The Sub Registrar Office for Ganapathi Nagar (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ganapathi Nagar (Ward -15)?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price. For example, for a property valued at Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.