Guideline Value for GANAPATHY NAGAR

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, located in Nethapakkam village, is Rs 200 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Special Type - I land classification. The relevant registration office for this area is the Madurandakam SRO.

How the guideline value of Ganapathy Nagar has changed

Over the years, the guideline value of Ganapathy Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision marked a significant increase to Rs 134 per sq.ft, reflecting a 49% rise from the previous figure. However, the 2023 revision maintained the value at Rs 200 per sq.ft, showing no change from the 2024 revision.

It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Nethapakkam

Nethapakkam village has eight streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value for these streets is Rs 130 per sq.ft, placing Ganapathy Nagar's value above this median.

• J.U.S.Nagar: Rs 100 per sq.ft (2024)
• Besant Nagar: Rs 160 per sq.ft (2024)
• Ambal Nagar: Rs 100 per sq.ft (2024)
• Sakthi Saibaba Nagar: Rs 100 per sq.ft (2024)
• Santhosh Nagar: Rs 100 per sq.ft (2024)
• Vgp Gold Nest: Rs 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further assistance, 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nethapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision, with a notable increase to Rs 134 per sq.ft in 2017 and a return to Rs 200 per sq.ft in 2023.

What is the land classification for Ganapathy Nagar?

Ganapathy Nagar falls under the Residential Special Type - I land classification, indicating its designated use for residential purposes.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ganapathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.