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 area is located in Sattamangalam 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 seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased to Rs 400 per sq.ft in the 2023 revision and finally to Rs 440 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, the value increased significantly by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions shows a modest increase of 10% in the guideline value.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which means that Ganapathy Syndicate(Pa) is below this median.

• Ganapathy Nagar (Sa): Rs 660 per sq.ft (2024)
• Ganapathy Nagar (Kr): Rs 660 per sq.ft (2024)
• Gandhi Nagar 1st Street (Ward -3): Rs 990 per sq.ft (2024)
• Ganapathy Colony (Sa): Rs 660 per sq.ft (2024)
• Gandhi Nagar 2nd Street (Ward -3): Rs 990 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, calculated at 7%, would be Rs 30,800, and the registration fee at 2% would be Rs 8,800. Therefore, the total cost for stamp duty and registration fees would be Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Syndicate(Pa)?

The Ganapathy Syndicate(Pa) area falls under 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 Sattamangalam

The guideline value is an essential factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

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 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

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

Ganapathy Syndicate(Pa) is classified as Residential Class II Type - II.

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

The stamp duty is charged at 7% of the higher of the guideline value or sale price, and the registration fee is 2% of the guideline value or sale price.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.