Guideline Value for GANAPATHY NAGAR

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Ganapathy Nagar has changed

The guideline value for Ganapathy Nagar has undergone several revisions over the years. In 2003, the value was Rs 57 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The 2012 revision saw a rise to Rs 1,500 per sq.ft, but this was followed by a decrease to Rs 1,005 per sq.ft in 2017. The most recent revisions show a substantial increase, with the value rising to Rs 1,500 per sq.ft in 2023 and then to Rs 1,800 per sq.ft in 2024, marking a 20% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3058%. The register does not have a figure for the year 2002 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Ganapathy Nagar's 2024 figure above this median.

• Ganapathy Garden: Rs 1,000 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Gabirel Estate: Rs 1,000 per sq.ft (2024)
• Fathimabevi Garden: Rs 1,100 per sq.ft (2024)
• Gandhi Nagar Co-Opearative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)
• Ezhil Muga Nagar: Rs 1,100 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 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, making the total charges Rs 1,62,000. 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?

The Ganapathy Nagar area 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is referenced to ensure that the correct fees are calculated. Buyers and sellers should be aware that these values are subject to change with future revisions, impacting the overall cost of transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 57 per sq.ft in 2003 to Rs 1,800 per sq.ft in 2024, with notable changes in between.

What is the land classification of Ganapathy Nagar?

Ganapathy Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates in Ganapathy Nagar?

The stamp duty rate in Ganapathy Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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