Guideline Value for GANAPATHY NAGAR 1 TO 5 STREETS

Ganapathy Nagar 1 To 5 Streets guideline value

The current guideline value of Ganapathy Nagar 1 To 5 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kovilambakkam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Ganapathy Nagar 1 To 5 Streets has changed

The guideline value for Ganapathy Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, in the 2023 revision, the value increased to Rs 2,500 per sq.ft, and as of the 2024 revision, it is now Rs 2,750 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 to 2017 revision, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The latest revision shows a 10% increase from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Kovilambakkam

Kovilambakkam village has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value of Ganapathy Nagar 1 To 5 Streets.

• Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Ganapathi Nagar: Rs 2,750 per sq.ft (2024)
• Gandhi Street: Rs 2,160 per sq.ft (2024)
• Durakaiyamman Salai: Rs 2,200 per sq.ft (2024)
• Indrajit Avenue: Rs 2,750 per sq.ft (2024)
• Chinna Kovilambakkam 6 To 14 Streets: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar 1 To 5 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Nagar 1 To 5 Streets?

The Ganapathy Nagar 1 To 5 Streets are covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Kovilambakkam

The guideline value is a critical factor when registering property in Kovilambakkam. It serves as a benchmark for determining the minimum value at which property transactions are assessed for stamp duty and registration fees.

When buying or selling property, the guideline value ensures that both parties are aware of the official valuation of the property, which helps in maintaining transparency during the transaction process.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar 1 To 5 Streets?

The current guideline value of Ganapathy Nagar 1 To 5 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Ganapathy Nagar 1 To 5 Streets?

The land classification for Ganapathy Nagar 1 To 5 Streets is Residential Class I Type - I.

What is the registration office for Ganapathy Nagar 1 To 5 Streets?

The registration office for Ganapathy Nagar 1 To 5 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property in Ganapathy Nagar 1 To 5 Streets?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,92,500.