Guideline Value for GANAPRAKASHAM NAGAR

Ganaprakasham Nagar guideline value

The current guideline value of Ganaprakasham Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Karunakacherry village, under the Salavakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ganaprakasham Nagar has changed

The guideline value for Ganaprakasham Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 100 per sq.ft. The 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 100 per sq.ft.

Guideline values in Karunakacherry

In Karunakacherry village, there are 10 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 200 per sq.ft, with a median value of Rs 100 per sq.ft. Ganaprakasham Nagar's 2024 guideline value aligns with this median.

• Karthik Garden: Rs 200 per sq.ft (2024)
• Aboorvam Nagar: Rs 100 per sq.ft (2024)
• Muthamil Nagar: Rs 100 per sq.ft (2024)
• New Laural Nagar: Rs 151 per sq.ft (2024)
• New Laural Nagar Extension: Rs 151 per sq.ft (2024)
• Sachin Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Ganaprakasham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganaprakasham Nagar?

The Sub Registrar Office that covers Ganaprakasham Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Karunakacherry. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct amounts during the registration process.

When a property is registered, the guideline value is compared to the sale price. The stamp duty is charged on the higher of the two values, ensuring that the government receives the appropriate fees based on the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Ganaprakasham Nagar?

The current guideline value of Ganaprakasham Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024, with a 49% increase from 2017 to 2023.

What are the other streets in Karunakacherry with their guideline values?

Other streets in Karunakacherry include Karthik Garden at Rs 200 per sq.ft, Aboorvam Nagar at Rs 100 per sq.ft, Muthamil Nagar at Rs 100 per sq.ft, New Laural Nagar at Rs 151 per sq.ft, New Laural Nagar Extension at Rs 151 per sq.ft, and Sachin Nagar at Rs 100 per sq.ft.

What is the stamp duty rate for properties in Ganaprakasham Nagar?

The stamp duty rate for properties in Ganaprakasham Nagar is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ganaprakasham Nagar located?

The Sub Registrar Office for Ganaprakasham Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.