Guideline Value for M.K. GANAPATHI NAGAR

M.K. Ganapathi Nagar guideline value

The current guideline value of M.K. Ganapathi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kunjaram village, under the Oothukkottai SRO, and is classified as Residential Class I Type - I.

How the guideline value of M.K. Ganapathi Nagar has changed

The guideline value for M.K. Ganapathi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 75 per sq.ft, which then increased to Rs 50 per sq.ft in the 2017 revision. Following this, the value doubled in the 2023 revision to Rs 100 per sq.ft, and it remained unchanged in the 2024 revision at Rs 100 per sq.ft.

Notably, there are no figures available for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is an increase of 33%.

Guideline values in Kunjaram

In Kunjaram village, four streets under the Oothukkottai SRO have a guideline value of Rs 100 per sq.ft for 2024, with M.K. Ganapathi Nagar's value matching the median of Rs 100 per sq.ft. The other streets in Kunjaram are as follows:

• Enjal Nagar: Rs 100 per sq.ft (2024)
• Sri Angalaparamseswari Nagar: Rs 100 per sq.ft (2024)
• Anjaa Nagar @ S V Garden: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in M.K. Ganapathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers M.K. Ganapathi Nagar?

The M.K. Ganapathi Nagar area is covered by the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

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

When a property is sold, the guideline value ensures that the transaction is recorded at a fair rate, which helps in maintaining transparency in property dealings. Buyers and sellers should always refer to the latest guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of M.K. Ganapathi Nagar?

The current guideline value of M.K. Ganapathi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained at Rs 100 per sq.ft in 2024.

What are the other streets in Kunjaram with the same guideline value?

Other streets in Kunjaram with a guideline value of Rs 100 per sq.ft include Enjal Nagar, Sri Angalaparamseswari Nagar, and Anjaa Nagar @ S V Garden.

How is stamp duty calculated in M.K. Ganapathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at 7%.

Which office handles registrations for M.K. Ganapathi Nagar?

The Oothukkottai Sub Registrar Office handles registrations for M.K. Ganapathi Nagar, located near the government hospital in Uthukottai, Chennai.