Guideline Value for GANAPATHY NAGAR

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vellanoor-1 village under the Avadi SRO, classified as Residential Class II Type - I.

How the guideline value of Ganapathy Nagar has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. Notably, the register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median value for these streets is Rs 555 per sq.ft, which means Ganapathy Nagar's 2024 figure is below that median.

• Gajalakshmi Nagar: Rs 555 per sq.ft (2024)
• Ganesh Nagar: Rs 555 per sq.ft (2024)
• Ganga Nagar Annex: Rs 555 per sq.ft (2024)
• Chelliyamman Nagar Phase - I: Rs 440 per sq.ft (2024)
• Chelliamman Nagar: Rs 555 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Nagar?

Ganapathy Nagar falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vellanoor-1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. It is important to note that these charges are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification for Ganapathy Nagar?

Ganapathy Nagar is classified as Residential Class II Type - I.

Where can I find the Avadi Sub Registrar Office?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total fees would amount to Rs 49,500.