Guideline Value for Ganapathi Nagar

Ganapathi Nagar guideline value

The current guideline value of Ganapathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Atanancheri village under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Ganapathi Nagar has changed

The guideline value for Ganapathi Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 700 per sq.ft in 2012. This marked a significant increase of 133%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose to Rs 700 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a total increase of 133%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Ganapathi Nagar matches this median.

• Gangai Amman Nagar: Rs 600 per sq.ft (2024)
• Durga Nagar Part - II: Rs 1,050 per sq.ft (2024)
• Durga Nagar Part - I: Rs 1,050 per sq.ft (2024)
• Dr.Jayasingh Nagar-I,II: Rs 700 per sq.ft (2024)
• Dhorupathi Amman Nagar: Rs 700 per sq.ft (2024)
• Dhinesh Avenue: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty, charged at 7%, would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost for these fees would be Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathi Nagar?

The Ganapathi Nagar area falls under the jurisdiction of 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 Atanancheri

The guideline value is a critical factor in the registration process when buying or selling property in Atanancheri. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are proportionate to the property's worth.

When a property is sold, the guideline value helps in determining the official value for registration purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Ganapathi Nagar?

The current guideline value of Ganapathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 700 per sq.ft. The value increased from Rs 300 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, before rising again to Rs 700 per sq.ft in 2023.

What is the land classification for Ganapathi Nagar?

Ganapathi Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes within the local planning framework.

Where can I find the Sub Registrar Office for Ganapathi Nagar?

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

How is stamp duty calculated for property in Ganapathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.