Guideline Value for Jai Ganapathy Nagar

Jai Ganapathy Nagar guideline value

The current guideline value of Jai Ganapathy Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jai Ganapathy Nagar has changed

The guideline value for Jai Ganapathy Nagar has seen several revisions over the years. The earliest recorded value in the register is from 2012, which was Rs 750 per sq.ft. This was followed by a decrease to Rs 502 per sq.ft in 2017. However, the value increased significantly to Rs 750 per sq.ft in 2023, and then to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the 2024 figure for Jai Ganapathy Nagar.

• Jaya Shree Enclave: Rs 900 per sq.ft (2024)
• Illagi Nagar: Rs 1,980 per sq.ft (2024)
• Hayath Nagar: Rs 830 per sq.ft (2024)
• Hasan Nagar: Rs 1,320 per sq.ft (2024)
• Haritha Nagar: Rs 830 per sq.ft (2024)
• Jkp Jayadev Avenue Phase - I & Phase - II: Rs 830 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees to Rs 74,700. 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 further calculations.

Which Sub Registrar Office covers Jai Ganapathy Nagar?

The Sub Registrar Office that covers Jai Ganapathy Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Padappai, as it determines the official value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When a property is registered, the guideline value serves as a benchmark to ensure that the property is not undervalued. This helps maintain transparency in property transactions and ensures that the government receives the appropriate taxes.

Frequently asked questions

What is the current guideline value of Jai Ganapathy Nagar?

The current guideline value of Jai Ganapathy Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 11%.

What is the land classification of Jai Ganapathy Nagar?

Jai Ganapathy Nagar is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for properties in Jai Ganapathy Nagar?

The stamp duty for properties in Jai Ganapathy Nagar is 7%, and the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 74,700.

Where can I find the Sub Registrar Office for Jai Ganapathy Nagar?

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