Guideline Value for GANAPATHI NAGAR / GANAPATHI SYNTICATE COLONY

Ganapathi Nagar / Ganapathi Synticate Colony guideline value

The current guideline value of Ganapathi Nagar / Ganapathi Synticate Colony is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class IV Type - I.

How the guideline value of Ganapathi Nagar / Ganapathi Synticate Colony has changed

The guideline value for Ganapathi Nagar / Ganapathi Synticate Colony has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Ganapathi Nagar / Ganapathi Synticate Colony.

• Ganapathi Nagar (Extn.): Rs 1,650 per sq.ft (2024)
• Ganapathipuram: Rs 1,650 per sq.ft (2024)
• Ganapathipuram 1st Main Road: Rs 2,200 per sq.ft (2024)
• Ganapathypuram 1st Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar / Ganapathi Synticate Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathi Nagar / Ganapathi Synticate Colony?

The Ganapathi Nagar / Ganapathi Synticate Colony area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the minimum value for the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar / Ganapathi Synticate Colony?

The current guideline value of Ganapathi Nagar / Ganapathi Synticate Colony is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the higher of the guideline value or sale price.

Which office handles registrations for Ganapathi Nagar / Ganapathi Synticate Colony?

The Chennai South Joint I Sub Registrar Office handles registrations for Ganapathi Nagar / Ganapathi Synticate Colony. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification of Ganapathi Nagar / Ganapathi Synticate Colony?

The land classification for Ganapathi Nagar / Ganapathi Synticate Colony is Residential Class IV Type - I, indicating its suitability for residential development.