Guideline Value for GANAPATHY NAGAR II STREET

Ganapathy Nagar II Street guideline value

The current guideline value of Ganapathy Nagar II Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ganapathy Nagar II Street has changed

Over the years, the guideline value of Ganapathy Nagar II Street has seen significant changes. The earliest recorded figure in the register is from 2003, with a guideline value of Rs 451 per sq.ft. This figure increased to Rs 1,000 per sq.ft in 2007, marking a rise of 122%. Following that, the value surged to Rs 3,200 per sq.ft in 2012, which was a substantial increase of 220%. However, by 2017, the value dropped to Rs 2,144 per sq.ft, reflecting a decline of 33%. The guideline value then rose again to Rs 3,200 per sq.ft in 2023, before reaching the current rate of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, the guideline value has progressed from Rs 451 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, representing an overall increase of 680%. It is important to note that the register does not have a figure for the year 2002 for this street.

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, with a median value of Rs 4,620 per sq.ft. The guideline value of Ganapathy Nagar II Street is below this median.

• Ganapathy Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• Ganapathy Nagar (Union Carbiod Backside): Rs 4,620 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 II Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees together to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Nagar II Street?

The Ganapathy Nagar II Street 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 details.

How the guideline value is used when you buy or sell in Ekkaduthangal

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must ensure that the guideline value is considered to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a specific percentage of the value. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar II Street?

The current guideline value of Ganapathy Nagar II Street is Rs 3,520 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 451 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, with various increases and decreases recorded in between.

What is the median guideline value in Ekkaduthangal?

The median guideline value in Ekkaduthangal is Rs 4,620 per sq.ft, with Ganapathy Nagar II Street's value being below this median.

What are the stamp duty rates for properties in Ganapathy Nagar II Street?

The stamp duty rate for properties in Ganapathy Nagar II Street is 7% of the guideline value or sale price, whichever is higher.

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

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