Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This locality is situated in Ottankaranai village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ganapathy Nagar has changed

Over the years, the guideline value for Ganapathy Nagar has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which increased to Rs 200 per sq.ft in the 2012 revision. However, it decreased to Rs 134 per sq.ft in the 2017 revision. The value remained stable at Rs 200 per sq.ft during the 2023 and 2024 revisions, showing no change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 233%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ottankaranai

In Ottankaranai, eight streets are listed under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value among these streets is Rs 150 per sq.ft, placing Ganapathy Nagar's 2024 figure above this median.

• Erikarai Street: Rs 100 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Bajanai Koil 2nd Cross Street: Rs 100 per sq.ft (2024)
• Bajanai Koil 1st Cross Street: Rs 100 per sq.ft (2024)
• Mcb Ragas Phase-II: Rs 200 per sq.ft (2024)
• Thai Avenue: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 details.

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 Ottankaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Ottankaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This process helps maintain a standardized valuation for properties, contributing to transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has gone through several revisions, starting from Rs 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2012. It decreased to Rs 134 per sq.ft in 2017 and has remained at Rs 200 per sq.ft since 2023.

What are the guideline values of other streets in Ottankaranai?

Other streets in Ottankaranai have varying guideline values, ranging from Rs 100 to Rs 300 per sq.ft. Ganapathy Nagar's value is above the median of Rs 150 per sq.ft for the area.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,00,000. The stamp duty is Rs 14,000, and the registration fee is Rs 4,000, totaling Rs 18,000.

Which office handles registrations for Ganapathy Nagar?

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