Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Porur village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Ganapathy Nagar has changed

The guideline value for Ganapathy Nagar has seen several revisions over the years. In 2002, the value was Rs 401 per sq.ft, which increased to Rs 444 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 750 per sq.ft in 2007, and then it jumped to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision saw a 10% rise. The most significant change occurred between 2007 and 2012, where the value increased by 500%. Overall, from 2002 to 2024, the guideline value has increased by 1134%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Ganapathy Nagar is above this median.

• Ganapathy Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Ganapathy Nagar Iind Street: Rs 4,950 per sq.ft (2024)
• Ganapathy Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Ganapathy Nayakkar Street: Rs 4,950 per sq.ft (2024)
• Faith House Ist Street: Rs 3,960 per sq.ft (2024)
• Faith House II nd Street: Rs 3,960 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 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. The duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process for property transactions in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property, which is crucial for legal and financial purposes. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024, representing a 10% rise.

What is the land classification of Ganapathy Nagar?

Ganapathy Nagar is classified as Mixed Special Type - I, which indicates its diverse land use and zoning regulations.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Ganapathy Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500.