Guideline Value for GANAPATHY NAGAR

Ganapathy Nagar guideline value

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

How the guideline value of Ganapathy Nagar has changed

The guideline value for Ganapathy Nagar has undergone several revisions over the years. Starting from Rs 205 per sq.ft in 2002, it increased to Rs 232 per sq.ft in 2003, marking a change of +13%. The value saw a significant rise to Rs 1,250 per sq.ft in 2007, which was a +439% increase. In 2012, the value was Rs 3,000 per sq.ft, reflecting a +140% change from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of -33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, which is a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +1510%. There are no figures available for the revisions in years other than those specified.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Ganapathy Nagar.

• Facit Asia Road: Rs 3,900 per sq.ft (2024)
• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Errikkarai Street (Lake Salai): Rs 3,300 per sq.ft (2024)
• Elim Nagar Park West Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park South Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park North Street: Rs 3,300 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 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, making the total fees together Rs 2,97,000. The duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

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.

To find your SRO, you can use the provided link.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations and ensure that the sale price meets or exceeds the guideline value to avoid issues during registration.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 205 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting significant changes across various revisions.

What is the land classification of Ganapathy Nagar?

Ganapathy Nagar is classified as Residential Class II Type - II under the Neelankarai SRO.

What are the stamp duty and registration fees for properties in Ganapathy Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Ganapathy Nagar?

The Neelankarai Sub Registrar Office is responsible for registrations in Ganapathy Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.