Guideline Value for SAI GANESH NAGAR

Sai Ganesh Nagar guideline value

The current guideline value of Sai Ganesh Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sai Ganesh Nagar has changed

The guideline value for Sai Ganesh Nagar has experienced significant changes over the years. In 2002, the value was Rs 79 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 27% rise. By 2007, the value further increased to Rs 400 per sq.ft, reflecting a substantial 300% growth. The 2012 revision saw a decrease to Rs 2,000 per sq.ft, a decline of 400%. However, from 2017 to 2024, the value surged to Rs 2,200 per sq.ft, which is a notable increase of 64% from the 2017 figure of Rs 1,340 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 2,685%. It is important to note that there is no figure available for the year 2023 in the register for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, placing Sai Ganesh Nagar's 2024 figure above that median.

• Sai Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Sai Balaji Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Sai Balaji Nagar (All Parts): Rs 1,650 per sq.ft (2024)
• Saibaba Colony: Rs 1,110 per sq.ft (2024)
• Sabari Nagar/ Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Sabari Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Ganesh Nagar?

The Sub Registrar Office that covers Sai Ganesh Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Pallikaranai. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is assessed to determine the applicable fees. It is essential to note that the fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sai Ganesh Nagar?

The current guideline value of Sai Ganesh Nagar is Rs 2,200 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 79 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 2,685%.

What is the land classification of Sai Ganesh Nagar?

Sai Ganesh Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sai Ganesh Nagar?

The Sub Registrar Office for Sai Ganesh Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft, the total fees would be Rs 1,98,000.