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 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 -19) has changed

The guideline value of Ganapathi Nagar (Ward -19) has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 600 per sq.ft, which was then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the guideline value increased significantly to Rs 600 per sq.ft in the 2023 revision, and finally rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes between revisions, the value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 990 per sq.ft, indicating that Ganapathi Nagar (Ward -19) is below the median with its 2024 figure of 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)
• Ganapathi Nagar Colony Extn: Rs 660 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 -19)

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, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. 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 Ganapathi Nagar (Ward -19)?

The Sub Registrar Office that covers 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 Panangottur

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees that are applicable to the transaction. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the financial obligations related to the transaction. This ensures that the government receives the appropriate revenue from property transactions in the area.

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?

Over the years, the guideline value has seen various changes, with the most recent increase being from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% rise. The value dropped from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017 before increasing again.

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

Ganapathi Nagar (Ward -19) is classified as Residential Class I Type - III. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Ganapathi Nagar (Ward -19)?

The Sub Registrar Office for Ganapathi Nagar (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant link.

How is stamp duty calculated for properties in Ganapathi Nagar (Ward -19)?

Stamp duty for properties in Ganapathi Nagar (Ward -19) is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would have a total guideline value of Rs 6,60,000, leading to specific stamp duty and registration fees based on that value.