Guideline Value for GANAPATHY NAGAR /ANNEX

Ganapathy Nagar /Annex guideline value

The current guideline value for Ganapathy Nagar /Annex in Vanagaram village is Rs 1,660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Ganapathy Nagar /Annex has changed

The guideline value for Ganapathy Nagar /Annex has seen several revisions over the years. In 2002, the value was Rs 114 per sq.ft, which increased to Rs 131 per sq.ft in 2003. Following this, there was a significant rise to Rs 500 per sq.ft in 2007, and then it jumped to Rs 1,500 per sq.ft in 2012. However, the value decreased to Rs 1,005 per sq.ft in 2017. The most recent figures show an increase to Rs 1,500 per sq.ft in 2023, and it has now risen to Rs 1,660 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1356%. Notably, the change from 2023 to 2024 is an increase of 11%. The increase from 2017 to 2023 was 49%, while the drop from 2012 to 2017 was 33%. The rise from 2007 to 2012 was 200%, and from 2003 to 2007, it was 282%. Lastly, the increase from 2002 to 2003 was 15%. There are no figures available for the years not listed in the register for this street.

Guideline values in Vanagaram

In Vanagaram village, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value for Ganapathy Nagar /Annex.

• Ganapathy Nagar: Rs 1,660 per sq.ft (2024)
• Gangaiamman Koil 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil 2nd Street: Rs 770 per sq.ft (2024)
• Gangaiamman Koil 2nd Street 1st Cross Street: Rs 770 per sq.ft (2024)
• Gangaiamman Koil 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil 4th Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar /Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ganapathy Nagar /Annex?

The Ganapathy Nagar /Annex 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 Vanagaram

The guideline value is a crucial factor in the registration process of property transactions in Vanagaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per the government regulations. This helps in maintaining transparency and accountability in property dealings, ensuring that both parties are aware of their financial obligations.

Frequently asked questions

What is the current guideline value for Ganapathy Nagar /Annex?

The current guideline value for Ganapathy Nagar /Annex is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 114 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, marking a significant overall increase of 1356%.

What is the land classification for Ganapathy Nagar /Annex?

Ganapathy Nagar /Annex is classified as Residential Class III Type - I.

Which office handles registrations for Ganapathy Nagar /Annex?

The Chennai South Joint I Sub Registrar Office handles registrations for Ganapathy Nagar /Annex, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Ganapathy Nagar /Annex?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 16,60,000, leading to a stamp duty of Rs 1,16,200.