Guideline Value for Ganapathy Rao Nagar

Ganapathy Rao Nagar guideline value

The current guideline value of Ganapathy Rao Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Ganapathy Rao Nagar has changed

The guideline value of Ganapathy Rao Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 1,573 per sq.ft. This increased to Rs 4,000 per sq.ft in the 2012 revision, marking a substantial rise of 154%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 180%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Ganapathy Rao Nagar's 2024 figure above this median.

• Ganapathy Nagar: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapathy Rao Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ganapathy Rao Nagar?

The Ganapathy Rao Nagar area is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set competitive prices based on the current market standards.

Frequently asked questions

What is the current guideline value of Ganapathy Rao Nagar?

The current guideline value of Ganapathy Rao Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,573 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 180% over the years.

What is the land classification of Ganapathy Rao Nagar?

Ganapathy Rao Nagar is classified as Residential Special Type - I, which indicates the type of development permissible in this area.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property in Ganapathy Rao Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.