Guideline Value for GANAPATHI NAGAR

Ganapathi Nagar guideline value

The current guideline value of Ganapathi Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area is located in Vichoor village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Ganapathi Nagar has changed

The guideline value for Ganapathi Nagar has undergone several revisions over the years. In 2012, the value was Rs 440 per sq.ft, which decreased to Rs 295 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 441 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 485 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is the same as the guideline value for Ganapathi Nagar.

• F D Nagar: Rs 550 per sq.ft (2024)
• Ezhil Nagar: Rs 485 per sq.ft (2024)
• Eswaran Koil Street: Rs 440 per sq.ft (2024)
• I.J Puram: Rs 485 per sq.ft (2024)
• Jagan Nagar: Rs 485 per sq.ft (2024)
• Jagan Nagar Ext: Rs 485 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 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would amount to Rs 33,950, and the registration fee at 2% would be Rs 9,700, totaling Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathi Nagar?

Ganapathi Nagar falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a standardized value.

When a property is sold, the buyer and seller must refer to the guideline value to determine the applicable charges. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar?

The current guideline value of Ganapathi Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 440 per sq.ft in 2012 to Rs 295 per sq.ft in 2017, then increased to Rs 441 per sq.ft in 2023, and finally to Rs 485 per sq.ft in 2024.

What is the land classification of Ganapathi Nagar?

Ganapathi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Ganapathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 4,85,000, the stamp duty would be Rs 33,950 at a rate of 7%.