Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, located in Thiruvallur village under the Tiruvallur Joint 1 SRO, is Rs 1,650 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

Over the years, the guideline value of Ganapathy Nagar has seen significant changes. The 2007 revision recorded a guideline value of Rs 200 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The 2017 revision then saw a substantial increase to Rs 1,500 per sq.ft in 2023, reflecting a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Ganapathy Nagar is above this median.

• Gandhipuram: Rs 1,320 per sq.ft (2024)
• Gandhi Road: Rs 3,300 per sq.ft (2024)
• Ekkadu Street: Rs 1,650 per sq.ft (2024)
• Edappalayam Thalakancheri road: Rs 1,650 per sq.ft (2024)
• Gengu St: Rs 1,100 per sq.ft (2024)
• East tank Street: Rs 2,750 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Nagar?

The Ganapathy Nagar area is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvallur. It serves as a reference point for determining the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 725% over the years.

What is the land classification of Ganapathy Nagar?

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

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Ganapathy Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for Ganapathy Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.