Guideline Value for SHRI GANAPATHY NAGAR ANNEX & SHRI GANAPATHY NAGAR

Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar guideline value

The current guideline value for Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar has changed

Starting from the earliest revision, the guideline value in 2002 was Rs 114 per sq.ft. This figure saw a significant increase to Rs 131 per sq.ft in 2003, marking a change of +15%. The value continued to rise, reaching Rs 500 per sq.ft in 2007, which was a notable increase of +282%. In 2012, the value adjusted to Rs 1,000 per sq.ft, reflecting a decrease of -33% from the previous revision.

In 2017, the guideline value increased to Rs 670 per sq.ft, which was a rise of +49% from 2012. The value then rose again to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, which is a +10% increase. There are no figures available for revisions prior to 2002 or for any years not listed.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing the guideline value of Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar below that median.

• Shri Kamatchiamman Nagar: Rs 1,320 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Shri Andal Nagar Annex: Rs 1,660 per sq.ft (2024)
• Shri Lalitha Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ramasamy Nagar: Rs 1,320 per sq.ft (2024)
• Shameer Sulthan Inam Maniyam Land: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar?

The Sub Registrar Office that covers Shri Ganapathy Nagar Annex & Shri Ganapathy 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value will be referenced to calculate the applicable fees. Buyers should be aware that the duty is assessed on the higher of the guideline value or the sale price, which can affect the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar?

The current guideline value for Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar is Rs 1,100 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 114 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing an overall increase of +865% over the years.

What is the registration office for this area?

The registration office for Shri Ganapathy Nagar Annex & Shri Ganapathy 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.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties in the area. It ensures that the appropriate stamp duty and registration fees are collected based on this value during property transactions.