Guideline Value for GANAPATHY SYNDICATE(PA)

Ganapathy Syndicate(Pa) guideline value

The current guideline value of Ganapathy Syndicate(Pa) is Rs 440 per sq.ft, effective from 1 July 2024. This property is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ganapathy Syndicate(Pa) has changed

The guideline value for Ganapathy Syndicate(Pa) has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 400 per sq.ft. In 2017, this figure decreased to Rs 268 per sq.ft, marking a significant drop of 33%. However, the value rebounded in 2023 to Rs 400 per sq.ft, and further increased to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 400 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village features a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Ganapathy Syndicate(Pa) below this median at Rs 440 per sq.ft.

• Ganapathy Nagar (Sa): Rs 440 per sq.ft (2024)
• Ganapathy Nagar (Kr): Rs 660 per sq.ft (2024)
• Ganapathy Colony (Sa): Rs 440 per sq.ft (2024)
• Ganapathi Puram Kattankolathur (Ward -17): Rs 550 per sq.ft (2024)
• Ganapathi Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Ganapathi Nagar (Ward -15): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Syndicate(Pa)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty charged at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Syndicate(Pa)?

The Ganapathy Syndicate(Pa) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, which can significantly impact the overall cost of the property transaction.

When registering a property, it is essential to ensure that the sale price is either equal to or higher than the guideline value. This ensures compliance with local regulations and avoids any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathy Syndicate(Pa)?

The current guideline value of Ganapathy Syndicate(Pa) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 in 2012 to Rs 268 in 2017, then back to Rs 400 in 2023, and finally to Rs 440 in 2024. There were no figures for the years 2002, 2003, and 2007.

What is the land classification of Ganapathy Syndicate(Pa)?

Ganapathy Syndicate(Pa) is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7% on the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 39,600.

Where is the Sub Registrar Office for Ganapathy Syndicate(Pa)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the Ganapathy Syndicate(Pa) area.