Guideline Value for GANAPATHY NAGAR (KR)

Ganapathy Nagar (Kr) guideline value

The current guideline value of Ganapathy Nagar (Kr), located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

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

Over the years, the guideline value of Ganapathy Nagar (Kr) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was later revised to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to Rs 600 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 660 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figure for Ganapathy Nagar (Kr) for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Ninna Karai

Ninna Karai village consists 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 guideline value for these streets is Rs 1,100 per sq.ft, placing Ganapathy Nagar (Kr)'s 2024 figure below this median.

• Ganapathy Nagar (Sa): Rs 440 per sq.ft (2024)
• Ganapathy Syndicate(Pa): Rs 440 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 Nagar (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty, calculated at 7%, would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, these fees total Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Nagar (Kr)?

The Sub Registrar Office that covers Ganapathy Nagar (Kr) is 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 information.

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 minimum value at which a property can be registered, ensuring that transactions are documented accurately and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transfer of ownership. This ensures that both the buyer and seller are aware of the financial implications of the sale based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar (Kr)?

The current guideline value of Ganapathy Nagar (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. It was Rs 402 per sq.ft in 2017, and Rs 600 per sq.ft in 2012.

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

Ganapathy Nagar (Kr) falls under the Residential Class I Type - III land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ganapathy Nagar (Kr)?

The Sub Registrar Office for Ganapathy Nagar (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ganapathy Nagar (Kr)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at a guideline value of Rs 660 per sq.ft would incur a stamp duty of Rs 46,200.