Guideline Value for GANAPATHY NAGAR (UNION CARBIOD BACKSIDE)

Ganapathy Nagar (Union Carbiod Backside) guideline value

The current guideline value of Ganapathy Nagar (Union Carbiod Backside) 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 street is Residential Class II Type - I.

How the guideline value of Ganapathy Nagar (Union Carbiod Backside) has changed

The guideline value for Ganapathy Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 391 per sq.ft, which increased to Rs 451 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,000 per sq.ft in 2007, and then it jumped to Rs 4,200 per sq.ft in 2012. However, there was a decrease to Rs 2,814 per sq.ft in 2017. The value then increased to Rs 4,200 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,620 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +15%. The value rose by +122% from 2003 to 2007, followed by a remarkable +320% increase from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. After that, there was a +49% increase from 2017 to 2023, and a +10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1082%.

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 for these streets is Rs 4,620 per sq.ft, which is equal to the current guideline value of Ganapathy Nagar (Union Carbiod Backside).

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

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 together to Rs 4,15,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Nagar (Union Carbiod Backside)?

The Sub Registrar Office that covers Ganapathy Nagar (Union Carbiod Backside) is 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 when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is legally recognized and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar (Union Carbiod Backside)?

The current guideline value of Ganapathy Nagar (Union Carbiod Backside) 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, representing an overall increase of +1082% over this period.

What is the land classification for Ganapathy Nagar?

Ganapathy Nagar (Union Carbiod Backside) is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Ganapathy Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 46,20,000, the stamp duty would be calculated at 7% of this amount.