Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, located in Irunkattukottai village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Ganapathy Nagar has changed

The guideline value for Ganapathy Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 167 per sq.ft. The 2023 revision maintained the value at Rs 250 per sq.ft, and the 2024 revision also reflects the same value of Rs 250 per sq.ft, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Ganapathy Nagar is below this median.

• Ganesh Nagar Colony: Rs 250 per sq.ft (2024)
• Erikkarai Street: Rs 250 per sq.ft (2024)
• Grama Bajanai Koil Street: Rs 600 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 800 per sq.ft (2024)
• Colony Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Indira Gandhi Street: Rs 400 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ganapathy Nagar?

The Ganapathy Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value assigned to the property.

When a property is sold, the guideline value is compared with the sale price to determine the applicable stamp duty. The higher of the two values is used for this calculation, ensuring that the government receives the appropriate 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 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, decreased to Rs 167 per sq.ft in 2017, and has remained at Rs 250 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value in Irunkattukottai?

The median guideline value in Irunkattukottai is Rs 400 per sq.ft, while Ganapathy Nagar's value is below this median at Rs 250 per sq.ft.

What are the stamp duty rates for property in Ganapathy Nagar?

The stamp duty for property in Ganapathy Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ganapathy Nagar located?

The Sub Registrar Office covering Ganapathy Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.