Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, 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 has changed

The guideline value of Ganapathy Nagar has seen several revisions over the years. Starting from Rs 20 per sq.ft in 2003, it increased significantly to Rs 300 per sq.ft in 2007, marking a substantial rise of 1400%. In 2012, the value changed to Rs 500 per sq.ft, which was a decrease of 33%. The next revision in 2017 saw it rise to Rs 335 per sq.ft, followed by an increase to Rs 500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2650%. The register has no figure for the year 2002 for this street.

Guideline values in Pothur

Pothur village has 98 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, which is equal to the current guideline value of Ganapathy Nagar.

• Ganapathy Nagar Extention: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, the total cost for these fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or 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 falls under the jurisdiction of the Redhills Sub Registrar Office, located at 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 of property transactions in Pothur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. This ensures that both parties in a transaction are aware of the costs involved based on the established guideline value.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar 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 20 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 2650% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Ganapathy Nagar?

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

What is the land classification of Ganapathy Nagar?

Ganapathy Nagar is classified as Residential Class I Type - I, indicating its designation for residential development.