Guideline Value for GANAPATHI NAGAR

Ganapathi Nagar guideline value

The current guideline value of Ganapathi Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Ganapathi Nagar has changed

The guideline value for Ganapathi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase of 3% from the 2023 revision, which was Rs 3,750 per sq.ft. The 2023 revision itself was a 7% increase from the 2012 revision of Rs 3,500 per sq.ft. There are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This steady increase reflects the changes in the real estate landscape in the area, with the current value being significantly higher than the previous revisions.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this village is Rs 3,300 per sq.ft, positioning Ganapathi Nagar's 2024 value above this median.

• Ganapathipuram Main Road: Rs 3,850 per sq.ft (2024)
• Fernando Street: Rs 3,300 per sq.ft (2024)
• Ganapathypuram Extention 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ganashpriyan Avenue: Rs 2,160 per sq.ft (2024)
• Gandhiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty, calculated at 7%, would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathi Nagar?

The Sub Registrar Office that covers Ganapathi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It is the value against which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable fees, ensuring that both parties are aware of their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar?

The current guideline value of Ganapathi Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, marking a 10% overall increase. The 2023 revision was Rs 3,750 per sq.ft, reflecting a 3% increase from the previous year.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Ganapathi Nagar?

The Pallavaram Sub Registrar Office is responsible for property registrations in Ganapathi Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in real estate transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue and provides a standard for property valuations in the area.