Guideline Value for O- Block, Ganapathy Colony

O- Block, Ganapathy Colony guideline value

The current guideline value for O- Block, Ganapathy Colony is Rs 9,900 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification is Residential Special Type - V.

How the guideline value of O- Block, Ganapathy Colony has changed

The guideline value for O- Block, Ganapathy Colony has undergone several revisions over the years. In 2007, the value was set at Rs 8,000 per sq.ft. This increased to Rs 9,000 per sq.ft in 2012, marking a rise of 13%. However, in 2017, the value decreased to Rs 6,030 per sq.ft, reflecting a decline of 33%. The guideline value then saw a significant increase to Rs 9,000 per sq.ft in 2023, which was a rise of 49% from the previous revision. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, an increase of 10% from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 24%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, placing O- Block, Ganapathy Colony's 2024 figure above this median.

• O- Block, 37th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 36th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 35th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 34th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 33rd Street: Rs 9,900 per sq.ft (2024)
• O- Block, 32nd Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in O- Block, Ganapathy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. 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 information.

Which Sub Registrar Office covers O- Block, Ganapathy Colony?

The Sub Registrar Office that covers O- Block, Ganapathy Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value is used to assess the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and legally within the framework established by the Registration Department.

Frequently asked questions

What is the current guideline value for O- Block, Ganapathy Colony?

The current guideline value for O- Block, Ganapathy Colony is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 24% over the years.

What is the median guideline value for streets in Ayanavaram?

The median guideline value for streets in Ayanavaram is Rs 4,900 per sq.ft, with O- Block, Ganapathy Colony's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in O- Block, Ganapathy Colony?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles the registration for O- Block, Ganapathy Colony?

The registration for O- Block, Ganapathy Colony is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.