Guideline Value for Ganapathi Nagar (S.No 38/5)

Ganapathi Nagar (S.No 38/5) guideline value

The current guideline value for Ganapathi Nagar (S.No 38/5) is Rs 1,500 per sq.ft, effective from 1 July 2024. This property is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Ganapathi Nagar (S.No 38/5) has changed

Over the years, the guideline value for Ganapathi Nagar has seen several revisions. The 2017 revision set the value at Rs 1,005 per sq.ft, which remained unchanged at Rs 1,500 per sq.ft in the 2023 revision. The latest 2024 revision also maintains this figure, showing no percentage change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, indicating a consistent valuation since 2023.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,500 per sq.ft, which is equal to the current figure for Ganapathi Nagar (S.No 38/5).

• Friends Avenue: Rs 1,200 per sq.ft (2024)
• Ganapathypuram: Rs 2,001 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,001 per sq.ft (2024)
• E.V.K. Sampath Street: Rs 1,500 per sq.ft (2024)
• Gandhi Street: Rs 2,001 per sq.ft (2024)
• Ganesh Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar (S.No 38/5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, leading to a total of Rs 1,35,000. Duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathi Nagar (S.No 38/5)?

The Sub Registrar Office covering Ganapathi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Gooduvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar (S.No 38/5)?

The current guideline value of Ganapathi Nagar (S.No 38/5) is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ganapathi Nagar has remained at Rs 1,500 per sq.ft since 2023 and has increased from Rs 1,005 per sq.ft in 2017, showing a 49% increase overall from 2017 to 2024.

What is the land classification for Ganapathi Nagar?

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

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for property in Ganapathi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,05,000.