Guideline Value for Ganapathi Puram 2nd Street

Ganapathi Puram 2nd Street guideline value

The current guideline value of Ganapathi Puram 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ganapathi Puram 2nd Street has changed

The guideline value for Ganapathi Puram 2nd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 2,345 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then rose sharply to Rs 3,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,900 per sq.ft in the 2024 revision, reflecting an 11% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 225%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nandhambakkam

In Nandhambakkam, there are 76 streets under the Alandur SRO that carry a 2024 guideline value, 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 is equal to the current guideline value of Ganapathi Puram 2nd Street.

• 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)
• Ganapathi Puram 8th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Puram 2nd Street

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

Which Sub Registrar Office covers Ganapathi Puram 2nd Street?

The Ganapathi Puram 2nd Street falls under the jurisdiction of 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 plays a crucial role during property registration in Nandhambakkam. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is determined by the Registration Department and is subject to periodic revisions based on various factors.

When selling a property, the guideline value helps in establishing a baseline for the sale price. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Ganapathi Puram 2nd Street?

The current guideline value of Ganapathi Puram 2nd 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, showing a total increase of 225% over the years.

What is the land classification for Ganapathi Puram 2nd Street?

Ganapathi Puram 2nd Street is classified as Residential Class II Type - I.

What are the other streets with the same guideline value in Nandhambakkam?

Other streets in Nandhambakkam with the same guideline value of Rs 3,900 per sq.ft include Ganapathipuram 3rd Street, Ganapathi puram 4th Street, Ganapathipuram 5th Street, Ganapathipuram 6th Street, Ganapathipuram 7th Street, and Ganapathi Puram 8th Street.

Where can I find the Alandur Sub Registrar Office?

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