Guideline Value for GANAPATHYPURAM

Ganapathypuram guideline value

The current guideline value of Ganapathypuram is Rs 1,120 per sq.ft, effective from 1 July 2024. This area is located in Sivabootham village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Ganapathypuram has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained until the 2017 revision when it decreased to Rs 670 per sq.ft. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then further rose to Rs 1,120 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 12%.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft, with a median of Rs 1,650 per sq.ft. Ganapathypuram's 2024 value is below this median.

• Dhanalakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Indira Nagar: Rs 1,120 per sq.ft (2024)
• Chettiyar Agaram Main Road: Rs 1,650 per sq.ft (2024)
• Bharathi Nagar: Rs 1,130 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,210 per sq.ft (2024)
• Kamatchi Nagar 1st Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathypuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,120 per sq.ft, the total guideline value would be Rs 11,20,000. The stamp duty at 7% would amount to Rs 78,400, and the registration fee at 2% would be Rs 22,400, making the total fees Rs 1,00,800. 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 Ganapathypuram?

The Ganapathypuram area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your specific SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Sivabootham, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate applicable stamp duty and registration fees, which are mandatory for all real estate transactions.

Both buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements. It is important to note that the guideline value may differ from the sale price, but the duty is charged based on the higher of the two.

Frequently asked questions

What is the current guideline value for Ganapathypuram?

The current guideline value for Ganapathypuram is Rs 1,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,120 per sq.ft in 2024.

What is the classification of land in Ganapathypuram?

Ganapathypuram is classified as Residential Class IV Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Ganapathypuram is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ganapathypuram?

The Sub Registrar Office covering Ganapathypuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.