Guideline Value for GANAPATHY COLONY (NEAR VANDIPATTAI)

Ganapathy Colony (Near Vandipattai) guideline value

The current guideline value of Ganapathy Colony (Near Vandipattai) is Rs 4,620 per sq.ft, effective from 1 July 2024. This area is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Ganapathy Colony (Near Vandipattai) has changed

The guideline value for Ganapathy Colony has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 391 per sq.ft. This value increased to Rs 451 per sq.ft in 2003, marking a 15% rise. Following this, the value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, which is an increase of 122%. In 2012, the value was recorded at Rs 4,200 per sq.ft, an increase of 320% from the previous revision. However, in 2017, it dropped to Rs 2,814 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 4,200 per sq.ft in 2023, before reaching the current guideline value of Rs 4,620 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,082%. There are no figures available for revisions in the years not listed.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is the same as the guideline value for Ganapathy Colony (Near Vandipattai).

• Ganapathy Colony Ist Cros Street: Rs 4,620 per sq.ft (2024)
• Ganapathy Colony 2nd Cross St: Rs 4,620 per sq.ft (2024)
• Ganapathy Nagar II Street: Rs 3,520 per sq.ft (2024)
• Ganapathy Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• Ganapathy Nagar (Union Carbiod Backside): Rs 4,620 per sq.ft (2024)
• Gandhi Nagar Extn.: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Colony (Near Vandipattai)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would amount to Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, bringing the total fees to Rs 4,15,800. 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 further calculations.

Which Sub Registrar Office covers Ganapathy Colony (Near Vandipattai)?

The Ganapathy Colony (Near Vandipattai) 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 Ekkaduthangal

The guideline value is a crucial factor during the registration of property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Colony (Near Vandipattai)?

The current guideline value of Ganapathy Colony (Near Vandipattai) is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 391 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, marking an overall increase of 1,082% over the years.

What are the stamp duty and registration fees for property in Ganapathy Colony?

For a property valued at Rs 46,20,000, the stamp duty would be Rs 3,23,400 and the registration fee would be Rs 92,400, totaling Rs 4,15,800.

Which Sub Registrar Office covers Ganapathy Colony?

Ganapathy Colony (Near Vandipattai) falls under 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.

What is the land classification for Ganapathy Colony?

The land classification for Ganapathy Colony (Near Vandipattai) is Residential Class II Type - I, indicating its suitability for residential purposes.