Guideline Value for Ganapathy Farm Lands

Ganapathy Farm Lands guideline value

The current guideline value of Ganapathy Farm Lands is Rs 150 per sq.ft, effective from 1 July 2024. This property is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Ganapathy Farm Lands has changed

In the 2012 revision, the guideline value was set at Rs 150 per sq.ft. This figure remained unchanged until the 2017 revision, where it was reduced to Rs 100 per sq.ft, reflecting a decrease of 33%. However, in the 2023 revision, the value increased by 50% to Rs 150 per sq.ft, which was maintained in the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0%.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Ganapathy Farm Lands is below this median.

• Ganapathy Farm House Site: Rs 400 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 Lands

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total fees Rs 13,500. 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 Farm Lands?

The Ganapathy Farm Lands fall under the Sriperumpudur Sub Registrar Office located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of properties in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ganapathy Farm Lands?

The current guideline value of Ganapathy Farm Lands is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 150 per sq.ft in 2023 and remained the same in 2024.

What is the classification of Ganapathy Farm Lands?

Ganapathy Farm Lands is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500.

Where is the Sub Registrar Office for Ganapathy Farm Lands located?

The Sub Registrar Office covering Ganapathy Farm Lands is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.