Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village under the Pammal 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 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a significant increase of 64% in the guideline value.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for Ganapathy Nagar in the register. The substantial increase from 2017 to 2023 was 49%, reflecting a notable change in the guideline value during that period.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO with a 2024 guideline value range from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ganapathy Nagar's 2024 guideline value below this median.

• Gandhi Street: Rs 1,650 per sq.ft (2024)
• Essra Nagar: Rs 3,290 per sq.ft (2024)
• Gimberly Garden: Rs 2,200 per sq.ft (2024)
• Good Will Avenue: Rs 2,200 per sq.ft (2024)
• Dharmaraja koil Street (ward 4): Rs 2,200 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 2,200 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. 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?

Ganapathy Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When registering a property, 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 appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% during this period.

What is the land classification of Ganapathy Nagar?

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

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ganapathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.