Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Ganapathy Nagar has changed

Over the years, the guideline value of Ganapathy Nagar has seen significant changes. In the 2007 revision, the value was set at Rs 50 per sq.ft. This figure rose dramatically to Rs 900 per sq.ft in the 2012 revision, marking an increase of 1,700%. However, in the 2017 revision, the value decreased to Rs 603 per sq.ft, which was a decline of 33%. The value then increased to Rs 900 per sq.ft in the 2023 revision, and finally, it reached Rs 990 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,880%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

Nandambakkam village has 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Ganapathy Nagar's 2024 figure above that median.

• Gandhi Nagar: Rs 990 per sq.ft (2024)
• Dharmaraja Nagar: Rs 770 per sq.ft (2024)
• Devendra Nagar Extension: Rs 990 per sq.ft (2024)
• Devendra Nagar: Rs 990 per sq.ft (2024)
• Devendira Nagar: Rs 990 per sq.ft (2024)
• Indra Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapathy Nagar?

The Ganapathy Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Nandambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

Buyers and sellers should be aware that the guideline value is regularly updated and reflects the market conditions of the area. It is essential to check the latest figures before proceeding with any transactions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 50 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, representing an overall increase of 1,880%.

What is the land classification of Ganapathy Nagar?

Ganapathy Nagar is classified as Residential Special Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property in Ganapathy Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Ganapathy Nagar?

The Padappai Sub Registrar Office covers Ganapathy Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.