Guideline Value for GANAPATHY NAGAR (CHEN)

Ganapathy Nagar (Chen) guideline value

The current guideline value for Ganapathy Nagar (Chen) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Sengundram - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Ganapathy Nagar (Chen) has changed

Over the years, the guideline value for Ganapathy Nagar (Chen) has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision increased it significantly to Rs 700 per sq.ft, and the most recent 2024 revision has set it at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Looking at the overall changes, from 2012 to 2024, the guideline value has increased by 10%. The most notable change occurred between the 2017 and 2023 revisions, where the value jumped by 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

Sengundram - 1 village has a total of 126 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Ganapathy Nagar (Chen) below that median.

• Ganapathy Syndicate (Chen): Rs 770 per sq.ft (2024)
• Ford Avenue (Chen): Rs 1,100 per sq.ft (2024)
• Gandhi Nagar Extn (Chen): Rs 770 per sq.ft (2024)
• Ezhil Nagar (Chen): Rs 1,100 per sq.ft (2024)
• Gokulapuram Main Road (Chen): Rs 1,320 per sq.ft (2024)
• Golden Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost of these fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Nagar (Chen)?

The Ganapathy Nagar (Chen) 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 further assistance.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ganapathy Nagar (Chen)?

The current guideline value for Ganapathy Nagar (Chen) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Ganapathy Nagar (Chen)?

Ganapathy Nagar (Chen) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the registration fees for property in Ganapathy Nagar (Chen)?

The registration fees are calculated based on the guideline value. For example, on a plot valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400.

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, in the Chengalpattu registration zone.