Guideline Value for GANAPATHY NAGAR IST STREET

Ganapathy Nagar Ist Street guideline value

The current guideline value of Ganapathy Nagar Ist Street is Rs 5,500 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 Special Type - I.

How the guideline value of Ganapathy Nagar Ist Street has changed

The guideline value for Ganapathy Nagar Ist Street has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 451 per sq.ft. In 2007, the value increased significantly to Rs 1,000 per sq.ft, marking a 122% rise. By 2012, the value rose to Rs 5,000 per sq.ft, reflecting a substantial increase of 400%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The guideline value then increased to Rs 5,000 per sq.ft in 2023, and most recently, in 2024, it has reached Rs 5,500 per sq.ft, which represents a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1120%. It is important to note that there is no recorded figure for the year 2002 for Ganapathy Nagar Ist Street in the register.

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, placing Ganapathy Nagar Ist Street's 2024 figure above this median.

• Ganapathy Nagar II Street: Rs 3,520 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Therefore, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ganapathy Nagar Ist Street?

The Sub Registrar Office that covers Ganapathy Nagar Ist Street 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 details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Ekkaduthangal. It determines the minimum value at which the property must be registered, ensuring that the transaction is conducted transparently and fairly.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the actual value of the property being transferred.

Frequently asked questions

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

The current guideline value of Ganapathy Nagar Ist Street is Rs 5,500 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 5,500 per sq.ft in 2024, marking an overall increase of 1120% over the years.

What is the land classification for Ganapathy Nagar Ist Street?

Ganapathy Nagar Ist Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Ganapathy Nagar Ist Street 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 Ist Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated accordingly.