Guideline Value for GANAPATHI NAGAR (WARD -19)

Ganapathi Nagar (Ward -19) guideline value

The current guideline value of Ganapathi Nagar (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai 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 -19) has changed

Over the years, the guideline value for Ganapathi Nagar (Ward -19) has seen several revisions. The 2012 revision set the guideline value at Rs 600 per sq.ft, which changed to Rs 402 per sq.ft in 2017, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, followed by a further rise to Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From the 2017 revision to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, there has been a modest increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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, indicating that Ganapathi Nagar (Ward -19) is below this median at Rs 660 per sq.ft.

• Ganapathi Nagar (Ward -15): 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 -19)

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 at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 detailed calculations.

Which Sub Registrar Office covers Ganapathi Nagar (Ward -19)?

The Sub Registrar Office covering Ganapathi Nagar (Ward -19) 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 Ninna Karai

The guideline value plays a crucial role when buying or selling property in Ninna Karai. It is the minimum value set by the government for property transactions, and it is used to calculate the stamp duty and registration fees applicable during the registration process.

When a property is sold, the guideline value ensures that the sale price is not undervalued for the purpose of taxation. This means that buyers and sellers need to be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar (Ward -19)?

The current guideline value of Ganapathi Nagar (Ward -19) 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 660 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 402 per sq.ft in 2017 and an increase to Rs 600 per sq.ft in 2023.

What is the land classification for Ganapathi Nagar (Ward -19)?

Ganapathi Nagar (Ward -19) is classified as Residential Class I Type - III, indicating its designation for residential development.

Where can I find the registration office for Ganapathi Nagar (Ward -19)?

The Chengleput Joint II Sub Registrar Office covers Ganapathi Nagar (Ward -19) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions?

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