Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Ganapathy Nagar has changed

Since the 2002 revision, the guideline value for Ganapathy Nagar has seen significant changes. In 2002, the value was Rs 78 per sq.ft, which increased to Rs 328 per sq.ft in 2007. This was a substantial rise of 321%. The 2012 revision saw the value remain at Rs 2,000 per sq.ft, marking a drastic increase of 510% from the previous revision. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The guideline value then stabilized at Rs 2,000 per sq.ft for both the 2023 and 2024 revisions, indicating no change between these years.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 2464%. The register does not have a figure for Ganapathy Nagar for the year 2003.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Ganapathy Nagar is above this median, reflecting its unique position within the village.

• Ganapathy Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Gandhi Nagar 1to 3 Streets: Rs 1,500 per sq.ft (2024)
• Ezhil Avenue: Rs 1,000 per sq.ft (2024)
• Gandhi Street: Rs 1,500 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Droupathi Amman Street: Rs 1,200 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 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nandhivaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the Registration Department.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the financial aspects of property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 78 per sq.ft in 2002, rising to Rs 2,000 per sq.ft in 2012, then dropping to Rs 1,340 per sq.ft in 2017, and finally stabilizing at Rs 2,000 per sq.ft in 2023 and 2024.

What is the land classification for Ganapathy Nagar?

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

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

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000, and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which office handles registrations for Ganapathy Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Ganapathy Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202.