Guideline Value for Ganapathy Colony

Ganapathy Colony guideline value

The current guideline value of Ganapathy Colony is Rs 3,500 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Special Type - IV.

How the guideline value of Ganapathy Colony has changed

The guideline value for Ganapathy Colony has undergone several revisions over the years. The earliest recorded value in 2007 was Rs 450 per sq.ft, which saw a significant increase to Rs 3,300 per sq.ft in 2012. However, this value decreased to Rs 2,211 per sq.ft in 2017. Following this, the guideline value rose sharply to Rs 3,300 per sq.ft in 2023, and further increased to the current rate of Rs 3,500 per sq.ft in 2024.

In terms of percentage changes, the value increased by 633% from 2007 to 2012, then decreased by 33% from 2012 to 2017. After that, there was a substantial increase of 49% from 2017 to 2023, and a further rise of 6% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 678%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ganapathy Colony's 2024 figure above this median.

• Gandhi Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Gandhi Park Street: Rs 1,600 per sq.ft (2024)
• Gandhi Street: Rs 1,600 per sq.ft (2024)
• Eswari Nagar Ext: Rs 2,750 per sq.ft (2024)
• Eswari Nagar: Rs 2,900 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost for these fees to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Colony?

Ganapathy Colony falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government assessments.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ganapathy Colony?

The current guideline value of Ganapathy Colony is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 678% over the years.

What is the land classification of Ganapathy Colony?

Ganapathy Colony is classified as Residential Special Type - IV under the Selaiyur SRO.

What are the stamp duty and registration fees for properties in Ganapathy Colony?

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000, and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Which Sub Registrar Office covers Ganapathy Colony?

Ganapathy Colony is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.