Guideline Value for JAI GANAPATHY NAGAR

Jai Ganapathy Nagar guideline value

The current guideline value of Jai Ganapathy Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Jai Ganapathy Nagar has changed

The guideline value for Jai Ganapathy Nagar has seen several revisions over the years. In 2002, the value was Rs 55 per sq.ft, which increased to Rs 66 per sq.ft in 2003. Following that, there was a significant rise to Rs 100 per sq.ft in 2007, and then a remarkable jump to Rs 1,000 per sq.ft in 2012. However, this figure dropped to Rs 670 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,000 per sq.ft in 2023, and the current value stands at Rs 1,100 per sq.ft from the 2024 revision.

In terms of percentage changes, the guideline value increased by 20% from 2002 to 2003, followed by a 52% rise from 2003 to 2007. The value surged by 900% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. A significant increase of 49% occurred from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1900%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which is equal to the 2024 figure for Jai Ganapathy Nagar.

• Jayalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Grama Street: Rs 1,100 per sq.ft (2024)
• Gomathi Garden: Rs 1,600 per sq.ft (2024)
• Kaliyuga Kannman Nagar: Rs 1,100 per sq.ft (2024)
• George Road: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 Jai Ganapathy Nagar?

The Sub Registrar Office that covers Jai Ganapathy Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Matthur, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the transfer of property ownership.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Jai Ganapathy Nagar?

The current guideline value of Jai Ganapathy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 55 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1900% over the years.

What is the land classification for Jai Ganapathy Nagar?

The land classification for Jai Ganapathy Nagar is Residential Special Type - III.

Where can I find the registration office for Jai Ganapathy Nagar?

The registration office for Jai Ganapathy Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Jai Ganapathy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the stamp duty would be Rs 77,000.