Guideline Value for SRI GANAPATHI NAGAR COLONY

Sri Ganapathi Nagar Colony guideline value

The current guideline value of Sri Ganapathi Nagar Colony is Rs 1,200 per sq.ft, effective from 1 July 2024. This colony is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Sri Ganapathi Nagar Colony has changed

The guideline value for Sri Ganapathi Nagar Colony has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,100 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 737 per sq.ft. The value then increased to Rs 1,100 per sq.ft in 2023, followed by the current value of Rs 1,200 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the value dropped by 33% from 2012 to 2017. Overall, comparing the values from 2012 to 2024, there has been a modest increase of 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value of Sri Ganapathi Nagar Colony is below this median.

• Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension): Rs 3,300 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 1,600 per sq.ft (2024)
• Sri Nargunam Avenue: Rs 850 per sq.ft (2024)
• Sowmiya Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Sowmiya Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Sowmiya Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathi Nagar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ganapathi Nagar Colony?

The Sub Registrar Office that covers Sri Ganapathi Nagar Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value will be used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial implications of the sale. This system helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Nagar Colony?

The current guideline value of Sri Ganapathi Nagar Colony is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification of Sri Ganapathi Nagar Colony?

Sri Ganapathi Nagar Colony is classified as Residential Class III Type - II.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property in Sri Ganapathi Nagar Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 12,00,000, leading to a stamp duty of Rs 84,000.