Guideline Value for GANAPATHY NAGAR COLONY

Ganapathy Nagar Colony guideline value

The current guideline value of Ganapathy Nagar Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Ganapathy Nagar Colony has changed

The guideline value for Ganapathy Nagar Colony has undergone several revisions over the years. The last recorded revision was in 2024, where the value increased to Rs 3,300 per sq.ft from Rs 2,010 per sq.ft in the 2017 revision, marking a significant increase of 64%. The register has no figure for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2017 revision, the last recorded value was Rs 2,010 per sq.ft. The guideline value has not been specified for the years 2023, 2012, 2007, 2003, and 2002, indicating a lack of updates for those periods. The increase from 2017 to 2024 reflects the latest adjustments made to the guideline value.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Ganapathy Nagar Colony's 2024 figure above that median.

• Ganapathy Syndicate Colony: Rs 3,300 per sq.ft (2024)
• Gandhi 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhi 2nd Street Extension: Rs 2,200 per sq.ft (2024)
• Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Gandhi Main Road-New Kumaran Joint: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the 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 Colony?

The Ganapathy Nagar Colony is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects an accurate market value.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, making it essential to understand the current guideline value before proceeding with a transaction.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar Colony?

The current guideline value of Ganapathy Nagar Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a 64% increase. There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification of Ganapathy Nagar Colony?

Ganapathy Nagar Colony is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

What is the registration office for Ganapathy Nagar Colony?

The Neelankarai Sub Registrar Office covers Ganapathy Nagar Colony, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,97,000.