Guideline Value for Ganapthipuram

Ganapthipuram guideline value

The current guideline value of Ganapthipuram is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Panapakkam village under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Ganapthipuram has changed

The guideline value for Ganapthipuram has undergone several revisions over the years. In 2012, the guideline value was set at Rs 900 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 603 per sq.ft, marking a reduction of 33%. The 2023 revision saw a significant increase to Rs 900 per sq.ft, followed by another increase in 2024 to the current value of Rs 990 per sq.ft, reflecting a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Ganapthipuram's 2024 figure above this median.

• Ezhil Nagar: Rs 550 per sq.ft (2024)
• Eligancia: Rs 770 per sq.ft (2024)
• Easwari Nagar: Rs 770 per sq.ft (2024)
• Dharanirajapuram: Rs 770 per sq.ft (2024)
• Blue Bird City Phase II: Rs 770 per sq.ft (2024)
• Balaji Nagar Part I: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ganapthipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty is calculated at 7%, which comes to Rs 69,300, and the registration fee is 2%, amounting to Rs 19,800. Therefore, the total cost for stamp duty and registration fees would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ganapthipuram?

The Ganapthipuram area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property as determined by the Registration Department. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ganapthipuram?

The current guideline value of Ganapthipuram is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the median guideline value for streets in Panapakkam?

The median guideline value for the 28 streets in Panapakkam is Rs 770 per sq.ft, with Ganapthipuram's current value being above this median.

What are the stamp duty and registration fees for Ganapthipuram?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 89,100.

Where is the Sub Registrar Office for Ganapthipuram located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.