Guideline Value for Ganapathipuram Colony

Ganapathipuram Colony guideline value

The current guideline value of Ganapathipuram Colony is Rs 3,900 per sq.ft, effective from 1 July 2024. This colony is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Ganapathipuram Colony has changed

The guideline value for Ganapathipuram Colony has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then rose significantly to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 3,900 per sq.ft. The changes between these revisions include a 192% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024.

Overall, from 2007 to 2024, the guideline value has increased by 225%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

In Nandhambakkam, there are 76 streets under the Alandur SRO, with guideline values 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 equal to the current value of Ganapathipuram Colony.

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

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, totaling 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 more information.

Which Sub Registrar Office covers Ganapathipuram Colony?

The Ganapathipuram Colony falls under 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 additional details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, which is essential for legal and financial purposes. Buyers and sellers must be aware of the current guideline value to accurately calculate their costs during the registration process.

Frequently asked questions

What is the current guideline value of Ganapathipuram Colony?

The current guideline value of Ganapathipuram Colony 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 significant increase over the years.

What is the land classification of Ganapathipuram Colony?

Ganapathipuram Colony is classified as Residential Class II Type - I.

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.

How is the stamp duty calculated for properties in Ganapathipuram Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at 7%.