Guideline Value for GANAPATHY SYNDICATE COLONY

Ganapathy Syndicate Colony guideline value

The current guideline value of Ganapathy Syndicate Colony is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this locality is Residential Class IV Type - I.

How the guideline value of Ganapathy Syndicate Colony has changed

The guideline value for Ganapathy Syndicate Colony has seen several revisions over the years. In 2003, the guideline value was Rs 57 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then rose dramatically to Rs 1,500 per sq.ft in 2012, but it dropped to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, followed by the current value of Rs 1,700 per sq.ft in 2024.

Between 2017 and 2023, there was a 49% increase in the guideline value. The jump from 2023 to 2024 represents a 13% increase. Notably, the value surged by 650% from 2007 to 2012, and from 2003 to 2007, it increased by 251%. Overall, from 2003 to 2024, the guideline value has seen a remarkable increase of 2882%. The register has no figure for this street for the year 2002.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Ganapathy Syndicate Colony aligns with this median.

• Ganapathy Nagar: Rs 1,800 per sq.ft (2024)
• Ganapathy Garden: Rs 1,000 per sq.ft (2024)
• Gandhi Nagar Co-Operative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)
• Gabirel Estate: Rs 1,000 per sq.ft (2024)
• Fathimabevi Garden: Rs 1,100 per sq.ft (2024)
• Gandhi Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Syndicate Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Syndicate Colony?

The Sub Registrar Office that covers Ganapathy Syndicate Colony is 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ganapathy Syndicate Colony?

The current guideline value of Ganapathy Syndicate Colony is Rs 1,700 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 57 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 2882% over this period.

What are the stamp duty and registration fees for property in Ganapathy Syndicate Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,53,000.

Which office handles property registrations in Chemmancheri?

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

What is the land classification for Ganapathy Syndicate Colony?

The land classification for Ganapathy Syndicate Colony is Residential Class IV Type - I, indicating its designation for residential use.