Guideline Value for Ganapathy Nagar

Ganapathy Nagar guideline value

The current guideline value of Ganapathy Nagar, located in Salamangalam village under the Sriperumpudur SRO, is Rs 400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I 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 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it dropped to Rs 268 per sq.ft in 2017, before returning to Rs 400 per sq.ft in both 2023 and the upcoming 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while there was no change from 2023 to 2024. The overall change from 2007 to 2024 shows an increase of 300%. The fluctuations in the guideline value reflect the revisions made over time, with the 2012 to 2017 period being the only instance of a decrease.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 3,100 per sq.ft. The median guideline value in this area is Rs 500 per sq.ft, indicating that the guideline value of Ganapathy Nagar is below this median.

• Fine Star Nagar: Rs 550 per sq.ft (2024)
• Esther Nagar: Rs 400 per sq.ft (2024)
• Empire Avenue: Rs 400 per sq.ft (2024)
• Gokul Nagar: Rs 600 per sq.ft (2024)
• Durgai Amman Nagar: Rs 550 per sq.ft (2024)
• Green Avenue: Rs 550 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. 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 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 Salamangalam

The guideline value plays a crucial role in the registration process of property transactions in Salamangalam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when transferring property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value. This helps maintain transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Ganapathy Nagar?

The current guideline value of Ganapathy Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several changes, with a notable increase from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, followed by a decrease to Rs 268 per sq.ft in 2017, and returning to Rs 400 per sq.ft in 2023 and 2024.

What is the median guideline value in Salamangalam?

The median guideline value in Salamangalam is Rs 500 per sq.ft, which is higher than the current guideline value of Ganapathy Nagar.

What fees are associated with property transactions in Ganapathy Nagar?

When purchasing property in Ganapathy Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ganapathy Nagar located?

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