Guideline Value for Ganapathi Nagar first Street

Ganapathi Nagar first Street guideline value

The current guideline value of Ganapathi Nagar first Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village, under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ganapathi Nagar first Street has changed

The guideline value for Ganapathi Nagar first Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, there was a decrease in the 2017 revision, dropping to Rs 2,345 per sq.ft. The value rose again to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 3,900 per sq.ft.

Between revisions, the changes are as follows: from 2007 to 2012, there was a substantial increase of 192%. The value then decreased by 33% from 2012 to 2017. Following that, there was a significant increase of 49% from 2017 to 2023, and the latest revision shows an increase of 11% from 2023 to 2024. The overall increase from 2007 to 2024 is 225%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam village has 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which matches the current value for Ganapathi Nagar first Street.

• Ganapathi Puram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 3rd Street: Rs 3,900 per sq.ft (2024)
• Ganapathi puram 4th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 5th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 6th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar first Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathi Nagar first Street?

The Sub Registrar Office that covers Ganapathi Nagar first Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial metric used during the registration of property transactions in Nandhambakkam. It serves as a benchmark for determining the minimum value at which a property 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 fair value of the property based on its location and classification. It is essential to consider the guideline value when negotiating the sale price to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar first Street?

The current guideline value of Ganapathi Nagar first Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Ganapathi Nagar first Street?

The land classification for Ganapathi Nagar first Street is Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Ganapathi Nagar first Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.