Guideline Value for GANAPATHI NAGAR (WARD -15)

Ganapathi Nagar (Ward -15) guideline value

The current guideline value of Ganapathi Nagar (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

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

The guideline value for Ganapathi Nagar (Ward -15) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 402 per sq.ft. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and then to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has risen by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Ganapathi Nagar (Ward -15) below this median.

• Ganapathi Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Ganapathi Nagar Colony Extn: 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)

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 amounts to Rs 6,60,000. The stamp duty is charged at 7%, which totals Rs 46,200, while the registration fee at 2% amounts to Rs 13,200. Together, the total charges would be Rs 59,400. It is important to note that 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 detailed calculations.

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 more information.

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

The guideline value is a crucial factor when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property transaction process. Buyers and sellers must ensure that the property is registered at or above the guideline value to comply with local regulations.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 for Ganapathi Nagar (Ward -15)?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at Rs 660 per sq.ft incurs a total fee of Rs 59,400.

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.