Guideline Value for Ganapathy Nagar Gangai Amman Kovil Street

Ganapathy Nagar Gangai Amman Kovil Street guideline value

The current guideline value of Ganapathy Nagar Gangai Amman Kovil Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, classified as Commercial Class I Type - I.

How the guideline value of Ganapathy Nagar Gangai Amman Kovil Street has changed

The guideline value for Ganapathy Nagar Gangai Amman Kovil Street has seen several revisions over the years. In 2007, the guideline value was Rs 3,854 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in 2012, marking a rise of 211%. However, from 2012 to 2017, the value decreased to Rs 8,040 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 13,200 per sq.ft, which is an increase of 64% from 2017.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 243%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Ganapathy Nagar Gangai Amman Kovil Street's 2024 figure is significantly above this median.

• Ganapathy Nagar II Street: Rs 4,400 per sq.ft (2024)
• Ganapathy Nagar, Marudhupandi Street: Rs 4,400 per sq.ft (2024)
• Ganapathy Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Ganapathy Sachidhanandhapuram: Rs 3,850 per sq.ft (2024)
• Ganapathy Sachidhanandhapuram 1st Street: Rs 3,850 per sq.ft (2024)
• Ganapathy Sachidhanandhapuram 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar Gangai Amman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Nagar Gangai Amman Kovil Street?

The Ganapathy Nagar Gangai Amman Kovil Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate stamp duty and registration fees.

When buying or selling a property, it is essential to consider the guideline value, as it impacts the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which may influence their financial planning.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar Gangai Amman Kovil Street?

The current guideline value of Ganapathy Nagar Gangai Amman Kovil Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,854 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 243% over the years.

What is the stamp duty rate for property in this area?

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

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values of other streets in Velachery?

Other streets in Velachery have varying guideline values, with Ganapathy Nagar II Street, Ganapathy Nagar, Marudhupandi Street, and Ganapathy Nagar 1st Street all at Rs 4,400 per sq.ft in 2024, while Ganapathy Sachidhanandhapuram and its first and second streets are at Rs 3,850 per sq.ft.