Guideline Value for Ganapathy Farm House Site

Ganapathy Farm House Site guideline value

The current guideline value of Ganapathy Farm House Site is Rs 400 per sq.ft, effective from 1 July 2024. This site is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Ganapathy Farm House Site has changed

The guideline value for Ganapathy Farm House Site has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 25 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a 1500% rise. However, it dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The value then stabilized at Rs 400 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

In summary, the guideline value has increased overall by 1500% from 2007 to 2024. The values for 2023 and 2024 are the same at Rs 400 per sq.ft, indicating stability after a period of fluctuation in previous years.

Guideline values in Somangalam

Somangalam village features 86 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 800 per sq.ft as of 2024. The guideline value for Ganapathy Farm House Site is above the median value of Rs 350 per sq.ft for the village.

• Ganapathy Farm Lands: Rs 150 per sq.ft (2024)
• Giriam Avenue: Rs 500 per sq.ft (2024)
• Dr.APJ Abdul Kalam Nagar: Rs 250 per sq.ft (2024)
• Doctors Avenue Annexe-I: Rs 400 per sq.ft (2024)
• Doctor Avenue: Rs 250 per sq.ft (2024)
• Green Garden: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Farm House Site

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, making the total charges Rs 36,000. 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 Ganapathy Farm House Site?

The Ganapathy Farm House Site falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the official valuation.

When a property is registered, the guideline value helps in establishing the legal value of the property, which is essential for both the buyer and seller. This value ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Ganapathy Farm House Site?

The current guideline value for Ganapathy Farm House Site is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with significant increases and decreases. From Rs 25 per sq.ft in 2007, it rose to Rs 400 per sq.ft in 2012, then dropped to Rs 268 per sq.ft in 2017, and stabilized at Rs 400 per sq.ft in 2023 and 2024.

What are the other streets in Somangalam and their guideline values?

Other streets in Somangalam have varying guideline values. For example, Ganapathy Farm Lands is Rs 150 per sq.ft, Giriam Avenue is Rs 500 per sq.ft, and Doctors Avenue Annexe-I is also Rs 400 per sq.ft.

What are the stamp duty and registration fees for properties in Ganapathy Farm House Site?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 400 per sq.ft, the total charges would amount to Rs 36,000.

Which Sub Registrar Office covers Ganapathy Farm House Site?

The Sriperumpudur Sub Registrar Office covers Ganapathy Farm House Site, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.