Guideline Value for Ganapathi Puram First Street

Ganapathi Puram First Street guideline value

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

How the guideline value of Ganapathi Puram First Street has changed

The guideline value for Ganapathi Puram First Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a 49% increase in the guideline value. The change from 2023 to 2024 reflects an 11% increase. Overall, from 2007 to 2024, the guideline value has increased by 225%.

Guideline values in Nandhambakkam

Nandhambakkam has 76 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Ganapathi Puram First Street.

• Ganapathipuram Colony: Rs 3,900 per sq.ft (2024)
• Ganapathipuram Main Road: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 9th Street: Rs 3,900 per sq.ft (2024)
• Ganapathi Puram 8th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 7th Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 6th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathi Puram 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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Ganapathi Puram First Street?

The Ganapathi Puram First 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 is a critical factor in 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 the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers should ensure that the sale price is at least equal to or higher than the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Ganapathi Puram First Street?

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

What are the stamp duty and registration fees for property in Ganapathi Puram First Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,51,000.

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.

What is the land classification for Ganapathi Puram First Street?

The land classification for Ganapathi Puram First Street is Residential Class II Type - I.