Guideline Value for Ganapathy Nagar Extn.

Ganapathy Nagar Extn. guideline value

The current guideline value of Ganapathy Nagar Extn. is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Ganapathy Nagar Extn. has changed

Over the years, the guideline value of Ganapathy Nagar Extn. has seen several revisions. The earliest recorded value in 2002 was Rs 78 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. Following this, the value rose dramatically by 510% to Rs 2,000 per sq.ft in 2012. However, there was a decrease of 33% in 2017, bringing the value down to Rs 1,340 per sq.ft. The value remained at Rs 2,000 per sq.ft in both 2023 and the latest revision in 2024, indicating no change between these two years. It is worth noting that the register has no figure for this street in 2003.

From 2017 to 2023, the guideline value increased by 49%. The overall increase from the 2002 revision to the current 2024 revision is a remarkable 2464%. This substantial growth reflects the evolving landscape of Ganapathy Nagar Extn. and its surrounding areas.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Ganapathy Nagar Extn.'s 2024 guideline value above this median.

• Ganapathy Nagar: Rs 2,000 per sq.ft (2024)
• Gandhi Nagar 1to 3 Streets: Rs 1,500 per sq.ft (2024)
• Gandhi Street: Rs 1,500 per sq.ft (2024)
• Ezhil Avenue: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Govindarajpuram: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty, charged at 7%, would be Rs 1,40,000, while the registration fee at 2% would be Rs 40,000. Therefore, the total cost for stamp duty and registration would be Rs 1,80,000. 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 further calculations.

Which Sub Registrar Office covers Ganapathy Nagar Extn.?

The Sub Registrar Office that covers Ganapathy Nagar Extn. is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nandhivaram. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar Extn.?

The current guideline value of Ganapathy Nagar Extn. is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 78 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, with notable revisions in 2007, 2012, 2017, and 2023.

What is the median guideline value in Nandhivaram?

The median guideline value for streets in Nandhivaram is Rs 1,500 per sq.ft, with Ganapathy Nagar Extn. being above this median at Rs 2,000 per sq.ft.

What are the stamp duty rates in Ganapathy Nagar Extn.?

The stamp duty rate for property transactions in Ganapathy Nagar Extn. is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.