Guideline Value for GANAPATHY SYNDICATE COLONY

Ganapathy Syndicate Colony guideline value

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

How the guideline value of Ganapathy Syndicate Colony has changed

The guideline value for Ganapathy Syndicate Colony has seen significant changes over the years. The 2017 revision recorded a value of Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The current revision for 2024 is set at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, placing Ganapathy Syndicate Colony's 2024 figure above that median.

• Gandhi 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhi 2nd Street Extension: Rs 2,200 per sq.ft (2024)
• Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar Colony: Rs 3,300 per sq.ft (2024)
• Gandhi Main Road-New Kumaran Joint: Rs 2,200 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 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, bringing the total cost for these fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Syndicate Colony?

The Ganapathy Syndicate Colony falls under 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 Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Syndicate Colony?

The current guideline value of Ganapathy Syndicate Colony 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 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Ganapathy Syndicate Colony?

Ganapathy Syndicate Colony is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Ganapathy Syndicate Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.