Guideline Value for GANTHI NAGAR

Ganthi Nagar guideline value

The current guideline value of Ganthi Nagar, located in Perumattu Nellore village, is Rs 800 per sq.ft. This value is effective from the 1st of July, 2024, and falls under the Residential Special Type - I land classification within the Chengleput Joint II SRO.

How the guideline value of Ganthi Nagar has changed

The guideline value for Ganthi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 175 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, the value dropped to Rs 536 per sq.ft in 2017 before rising again to Rs 800 per sq.ft in both 2023 and 2024. Notably, the register has no figures for this street in the years 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%, while the value decreased by 33% from 2012 to 2017. The most remarkable change occurred between 2007 and 2012, where the value surged by 357%. Overall, from 2007 to 2024, the guideline value has increased by 357%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Ganthi Nagar's 2024 figure above that median.

• Gangapuram: Rs 500 per sq.ft (2024)
• Ganga Nagar: Rs 500 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 800 per sq.ft (2024)
• Durga Nagar: Rs 700 per sq.ft (2024)
• Islath Nagar: Rs 500 per sq.ft (2024)
• Janakipuram: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Ganthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganthi Nagar?

The Ganthi Nagar area falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the value of the property, which in turn affects the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their property transactions. This helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Ganthi Nagar?

The current guideline value of Ganthi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced several changes, with the most notable increase occurring from Rs 175 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, and then again from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification of Ganthi Nagar?

Ganthi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Ganthi Nagar?

The stamp duty rate for property in Ganthi Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the provided link.