Guideline Value for Ganapathi Puram 8th Street

Ganapathi Puram 8th Street guideline value

The current guideline value of Ganapathi Puram 8th 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Ganapathi Puram 8th Street has changed

The guideline value for Ganapathi Puram 8th 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, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose to Rs 3,500 per sq.ft in 2023 before reaching the current rate of Rs 3,900 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 is an increase of 11%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 225% in the guideline value.

Guideline values in Nandhambakkam

Nandhambakkam has a range of guideline values across its 76 streets under the Alandur SRO, with figures ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for Ganapathi Puram 8th Street.

• Ganapathipuram 7th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 9th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 6th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram Colony: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 5th Street: Rs 3,900 per sq.ft (2024)
• Ganapathi Puram First Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Puram 8th 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 fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathi Puram 8th Street?

The Ganapathi Puram 8th Street is covered by 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 details.

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

The guideline value is a crucial factor during property transactions in Nandhambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration norms.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathi Puram 8th Street?

The current guideline value of Ganapathi Puram 8th 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, marking an overall increase of 225% over this period.

What is the land classification for Ganapathi Puram 8th Street?

Ganapathi Puram 8th Street falls under the Residential Class II Type - I land classification.

Which office handles registrations in Ganapathi Puram 8th Street?

The Alandur Sub Registrar Office handles registrations for Ganapathi Puram 8th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.