Guideline Value for SAKTHI GANAPATHI NAGAR

Sakthi Ganapathi Nagar guideline value

The current guideline value of Sakthi Ganapathi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sakthi Ganapathi Nagar has changed

The guideline value for Sakthi Ganapathi Nagar has seen several revisions over the years. The earliest available figure is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, marking a 180% rise. However, by 2017, the value dropped to Rs 938 per sq.ft, which was a decrease of 33%. The 2023 revision set the value at Rs 1,400 per sq.ft, and the latest revision in 2024 increased it to Rs 1,500 per sq.ft, reflecting a 7% increase.

There are no figures available in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sakthi Ganapathi Nagar is below this median.

• Sadayanguppam Pattai: Rs 3,300 per sq.ft (2024)
• Sachchiyyakuppam: Rs 2,150 per sq.ft (2024)
• Rottikara Madam Street: Rs 3,300 per sq.ft (2024)
• Sannathi Street: Rs 3,700 per sq.ft (2024)
• R.M.V. Nagar: Rs 1,500 per sq.ft (2024)
• Retaimalai Srinivasan Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. 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 Sakthi Ganapathi Nagar?

The Sub Registrar Office that covers Sakthi Ganapathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

When buying or selling property in Thiruvottiyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions, ensuring that the fees are calculated fairly based on the property's worth.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. This value is periodically revised to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Sakthi Ganapathi Nagar?

The current guideline value of Sakthi Ganapathi Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 200% since 2007.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,500 per sq.ft would incur a total fee of Rs 1,35,000.

Which office handles registrations in Sakthi Ganapathi Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for Sakthi Ganapathi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that these costs are calculated based on an official benchmark set by the government.