Guideline Value for GANAPATHI NAGAR

Ganapathi Nagar guideline value

The current guideline value of Ganapathi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Seevaram village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Ganapathi Nagar has changed

Since the 2012 revision, the guideline value for Ganapathi Nagar has seen several changes. The value was Rs 2,500 per sq.ft in 2012, then decreased to Rs 1,675 per sq.ft in 2017. Following that, it rose to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. The value then increased by 12% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value is Rs 2,800 per sq.ft, making Ganapathi Nagar's current value equal to the median.

• Corporation Road: Rs 4,400 per sq.ft (2024)
• Industrial Estate: Rs 6,400 per sq.ft (2024)
• Janakiraman Street: Rs 3,300 per sq.ft (2024)
• Bethal Nagar: Rs 3,300 per sq.ft (2024)
• Karseem Salai: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. Please 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?

The Ganapathi Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Seevaram. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the current guideline value to ensure compliance with local regulations. This helps in accurately assessing the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar?

The current guideline value of Ganapathi Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the median guideline value in Seevaram?

The median guideline value in Seevaram is Rs 2,800 per sq.ft, which is the same as the current guideline value of Ganapathi Nagar.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For instance, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,52,000.