Guideline Value for Ganapathy Nagar Extention

Ganapathy Nagar Extention guideline value

The current guideline value for Ganapathy Nagar Extention, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ganapathy Nagar Extention has changed

The guideline value for Ganapathy Nagar Extention has seen several revisions over the years. Starting from Rs 300 per sq.ft in 2007, it increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023 and is now set at Rs 550 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is the same as the current guideline value for Ganapathy Nagar Extention.

• Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Ganapathi Nagar Extension I & II: Rs 550 per sq.ft (2024)
• Eswaran Nagar: Rs 550 per sq.ft (2024)
• Engineer Ramasamy Nagar: Rs 550 per sq.ft (2024)
• Golden Avenue: Rs 440 per sq.ft (2024)
• Guru Raghavendra Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, while the registration fee is 2%, amounting to Rs 11,000. In total, the fees together come to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Nagar Extention?

The Ganapathy Nagar Extention falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pothur. 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 registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ganapathy Nagar Extention?

The current guideline value for Ganapathy Nagar Extention is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 83% over this period.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 5,50,000, the total fees amount to Rs 49,500.

Which Sub Registrar Office should I visit for Ganapathy Nagar Extention?

The Redhills Sub Registrar Office covers Ganapathy Nagar Extention. The office is located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

Are there other streets with the same guideline value in Pothur?

Yes, there are several other streets in Pothur with the same guideline value of Rs 550 per sq.ft for 2024, including Ganapathy Nagar, Ganapathi Nagar Extension I & II, Eswaran Nagar, Engineer Ramasamy Nagar, and Guru Raghavendra Nagar.