Guideline Value for Ganapathi Nagar-I

Ganapathi Nagar-I guideline value

The current guideline value of Ganapathi Nagar-I is Rs 800 per sq.ft, as per the 2023 revision. This area falls under Vengadamangalam village and is classified as Residential Special Type - II. The relevant Sub Registrar Office for this location is Gooduvancheri SRO.

How the guideline value of Ganapathi Nagar-I has changed

The guideline value for Ganapathi Nagar-I has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a 300% increase. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, which is a decline of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 800 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 300%. It is important to note that the register does not have figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific guideline values provided for other streets in Vengadamangalam under the Gooduvancheri SRO. Therefore, this section will not include any additional streets or their respective rates.

Stamp duty and registration fee for property in Ganapathi Nagar-I

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, bringing the total fees together to 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 Ganapathi Nagar-I?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ganapathi Nagar-I. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the duty is calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar-I?

The current guideline value of Ganapathi Nagar-I is Rs 800 per sq.ft, according to the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What is the land classification for Ganapathi Nagar-I?

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

Where is the Gooduvancheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 800 per sq.ft would incur a total guideline value of Rs 8,00,000, resulting in total fees of Rs 72,000.