Guideline Value for GANAPATHI NAGAR @ SRI GANAPATHI NAGAR

Ganapathi Nagar @ Sri Ganapathi Nagar guideline value

The current guideline value of Ganapathi Nagar @ Sri Ganapathi Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Class II Type - II.

How the guideline value of Ganapathi Nagar @ Sri Ganapathi Nagar has changed

The guideline value for Ganapathi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,700 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,900 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Ganapathi Nagar's 2024 figure above that median.

• Gandhimathi-Sreeramulu Kudiyiruppu (T.V.S.Nagar Annex): Rs 1,600 per sq.ft (2024)
• Gandhi Nagar (Kallikuppam) 1 To 4 Streets: Rs 1,600 per sq.ft (2024)
• GANDHI NAGAR (Kallikuppam) 5 to 8th CROSS STREETS: Rs 1,600 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram) 1st Sterrt: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram) 2nd Sterrt: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar (Near Srinivasapuram) 3rd Sterrt: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar @ Sri Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathi Nagar @ Sri Ganapathi Nagar?

The Ganapathi Nagar @ Sri Ganapathi Nagar area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the transaction is registered at a fair value.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. This value is used as a benchmark for calculating the applicable duties and fees during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar?

The current guideline value of Ganapathi Nagar @ Sri Ganapathi Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,700 per sq.ft in 2012 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 7% over this period.

What is the land classification for Ganapathi Nagar?

Ganapathi Nagar is classified as Residential Class II Type - II, which indicates the type of development permitted in the area.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What are the stamp duty rates for property transactions in Ganapathi Nagar?

The stamp duty for property transactions in Ganapathi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.