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. This property is located in Somangalam_B village, under the jurisdiction of the Sriperumpudur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Ganapathy Farm Lands has changed

The guideline value for Ganapathy Farm Lands has undergone several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 150 per sq.ft, the same as in the 2023 revision. Prior to that, in the 2017 revision, the value was Rs 100 per sq.ft, indicating a 50% increase from 2017 to 2023 and a cumulative increase of 50% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Thus, the only figures available are from 2017, 2023, and 2024, showing consistent values in the last two revisions.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, indicating that the 2024 figure 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 amounts to Rs 1,50,000. The stamp duty charged at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. 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 Lands?

The Ganapathy Farm Lands fall 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_B

The guideline value is a crucial factor during the registration process of property transactions in Somangalam_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Ganapathy Farm Lands?

The current guideline value for 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 remained the same at Rs 150 per sq.ft from 2023 to 2024. It increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023, marking a 50% increase.

What is the land classification for Ganapathy Farm Lands?

Ganapathy Farm Lands is classified as Residential Class IV Type - I, which is relevant for determining its guideline value and usage.

Where can I find the Sriperumpudur Sub Registrar Office?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 150 per sq.ft incurs total fees of Rs 13,500.