Guideline Value for Gananpathy Nagar (S.No.28/2)

Gananpathy Nagar (S.No.28/2) guideline value

The current guideline value of Gananpathy Nagar (S.No.28/2) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gananpathy Nagar (S.No.28/2) has changed

The guideline value for Gananpathy Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and further increased to Rs 880 per sq.ft in 2024, marking a 10% rise from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%. However, the value saw a decline of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO with a guideline value for 2024 ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Gananpathy Nagar (S.No.28/2) is above this median value.

• Ganapathi Avanue & Extn: Rs 870 per sq.ft (2024)
• Ganapathi Nagar: Rs 803 per sq.ft (2024)
• Ganapathi Nagar Extension: Rs 807 per sq.ft (2024)
• Friends Nagar: Rs 1,200 per sq.ft (2024)
• Friends Colony: Rs 806 per sq.ft (2024)
• Frances Colony: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Gananpathy Nagar (S.No.28/2)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gananpathy Nagar (S.No.28/2)?

The Sub Registrar Office that covers Gananpathy Nagar (S.No.28/2) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that both parties are aware of the official valuation. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Gananpathy Nagar (S.No.28/2)?

The current guideline value of Gananpathy Nagar (S.No.28/2) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Gananpathy Nagar?

Gananpathy Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Gananpathy Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Gananpathy Nagar (S.No.28/2), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.