Guideline Value for GANAPATHIPURAM

Ganapathipuram guideline value

The current guideline value of Ganapathipuram 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 street is Residential Class IV Type - I.

How the guideline value of Ganapathipuram has changed

The guideline value for Ganapathipuram has seen several revisions over the years. In 2002, the value was Rs 115 per sq.ft, which increased to Rs 136 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value further increased to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,650 per sq.ft.

The changes between these revisions are notable. From 2002 to 2024, the overall increase in guideline value is +1335%. The value rose by +194% from 2003 to 2007, followed by a +275% increase from 2007 to 2012. There was a decrease of -33% from 2012 to 2017, and a significant increase of +49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of +10%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values 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 guideline value for Ganapathipuram.

• Ganapathipuram 1st Main Road: Rs 2,200 per sq.ft (2024)
• Ganapathi Nagar / Ganapathi Synticate Colony: Rs 1,650 per sq.ft (2024)
• Ganapathi Nagar (Extn.): Rs 1,650 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 Ganapathipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 specific calculations.

Which Sub Registrar Office covers Ganapathipuram?

The Ganapathipuram 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 is a crucial factor when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganapathipuram?

The current guideline value of Ganapathipuram 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 increased from Rs 115 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of +1335% over this period.

What is the stamp duty rate for properties in Ganapathipuram?

The stamp duty rate for properties in Ganapathipuram is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ganapathipuram located?

The Sub Registrar Office for Ganapathipuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values, with rates ranging from Rs 1,110 to Rs 8,580 per sq.ft. The guideline value for Ganapathipuram is equal to the median of Rs 1,650 per sq.ft.