Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ganapathy Nagar has changed

The guideline value for Ganapathy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which decreased to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and then to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The 2017 revision had a notable increase of 49% compared to the 2023 revision. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, and Ganapathy Nagar's 2024 figure aligns with this median.

• Gandhiji Colony: Rs 660 per sq.ft (2024)
• Gandhi Nagar: Rs 830 per sq.ft (2024)
• Gandhi Street: Rs 830 per sq.ft (2024)
• Eswaran Koil Street: Rs 660 per sq.ft (2024)
• Elliamman Koil Street: Rs 660 per sq.ft (2024)
• East Mada Veethi: Rs 660 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 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. It is important to note that the 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?

The Ganapathy Nagar area falls under 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 Padappai

The guideline value is a crucial factor in the registration process of property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Ganapathy Nagar?

Ganapathy Nagar is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

Where can I find the registration office for Ganapathy Nagar?

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

How is stamp duty calculated for properties in Ganapathy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 8,30,000 would incur a stamp duty of Rs 58,100 at 7%.