Guideline Value for NEELA GANAPATHI GARDEN

Neela Ganapathi Garden guideline value

The current guideline value of Neela Ganapathi Garden is Rs 1,375 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village, under the jurisdiction of the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Neela Ganapathi Garden has changed

The guideline value for Neela Ganapathi Garden has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 837 per sq.ft. This increased to Rs 1,250 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,375 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, which is equal to the current guideline value of Neela Ganapathi Garden.

• N.S.R. Nagar: Rs 765 per sq.ft (2024)
• Middle Street: Rs 765 per sq.ft (2024)
• Perumal Koil Street: Rs 765 per sq.ft (2024)
• P.K.S. Nagar: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Nagar Phase-I: Rs 3,080 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Neela Ganapathi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value would be Rs 13,75,000. The stamp duty at 7% would amount to Rs 96,250, and the registration fee at 2% would be Rs 27,500, resulting in a total cost of Rs 1,23,750. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Neela Ganapathi Garden?

The Sub Registrar Office that covers Neela Ganapathi Garden is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kannampalayam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property is sold, the guideline value is considered to determine the applicable taxes, which helps maintain transparency in real estate transactions. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Neela Ganapathi Garden?

The current guideline value of Neela Ganapathi Garden is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 837 per sq.ft in 2017 to Rs 1,375 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Neela Ganapathi Garden?

Neela Ganapathi Garden is classified as Mixed Special Type - I, according to the land classification records.

What are the stamp duty and registration fees for property in Neela Ganapathi Garden?

For a property valued at Rs 13,75,000, the stamp duty would be Rs 96,250 and the registration fee would be Rs 27,500, totaling Rs 1,23,750.

Which office handles property registrations for Neela Ganapathi Garden?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Neela Ganapathi Garden.