Guideline Value for Ganesapuram

Ganesapuram guideline value

The current guideline value of Ganesapuram, located in Vanchuvancheri village under the Sriperumpudur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Ganesapuram has changed

The guideline value for Ganesapuram has seen several revisions over the years. In 2007, the value was Rs 115 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017, before returning to Rs 500 per sq.ft in both 2023 and 2024, reflecting no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The substantial increase from 2007 to 2012 was 335%, and overall, from 2007 to 2024, the value has increased by 335%.

Guideline values in Vanchuvancheri

In Vanchuvancheri, there are 23 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft. The median guideline value is Rs 400 per sq.ft, making Ganesapuram's current value of Rs 500 per sq.ft above the median.

• Gangaiamman Koil Street: Rs 200 per sq.ft (2024)
• Cement Road (Panchayat Road): Rs 300 per sq.ft (2024)
• Kannan Nagar: Rs 300 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai koil street: Rs 300 per sq.ft (2024)
• Kurunchi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ganesapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. 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 Ganesapuram?

The Sub Registrar Office that covers Ganesapuram is 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 Vanchuvancheri

The guideline value is a crucial factor in the registration process for property transactions in Vanchuvancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the financial obligations involved in the transaction. The guideline value serves as a benchmark for both buyers and sellers to assess the worth of the property being transacted.

Frequently asked questions

What is the current guideline value of Ganesapuram?

The current guideline value of Ganesapuram is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 115 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Vanchuvancheri?

Other streets in Vanchuvancheri have guideline values ranging from Rs 200 to Rs 300 per sq.ft, with Ganesapuram's value being above the median of Rs 400 per sq.ft.

What fees are associated with buying property in Ganesapuram?

When buying property in Ganesapuram, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ganesapuram?

The Sub Registrar Office for Ganesapuram is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.