Guideline Value for SRI GANAPATHI NAGAR COLONY

Sri Ganapathi Nagar Colony guideline value

The current guideline value of Sri Ganapathi Nagar Colony, located in Sattamangalam village under the Chengleput Joint II SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Sri Ganapathi Nagar Colony has changed

In the 2023 revision, the guideline value was set at Rs 600 per sq.ft. This marked an increase from previous revisions, with the current 2024 figure reflecting a 10% rise to Rs 660 per sq.ft. The register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the guideline value has seen a notable change from Rs 600 in 2023 to Rs 660 in 2024. The absence of figures in earlier revisions indicates that the current value is based solely on the most recent updates.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value stands at Rs 1,100 per sq.ft, placing Sri Ganapathi Nagar Colony's 2024 figure below that median.

• Sri Ganapathy Garden Permanur (Ward -15): Rs 440 per sq.ft (2024)
• Sri Ganapathy Nagar Colony: Rs 660 per sq.ft (2024)
• Sri Chandra Surya Gardens (Ward -15): Rs 990 per sq.ft (2024)
• Sri Bhuvaneswari Avenue Peramanur (Ward -15): Rs 660 per sq.ft (2024)
• Sri Bavani Nagar Peramanur (Ward -15): Rs 440 per sq.ft (2024)
• Sri Balaji Nagar(West) Kattankolathur (Ward -18): Rs 990 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the fees reflect the true value of the transaction, providing a standardized approach to property registration.

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 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, marking a 10% increase. The register has no figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Sri Ganapathi Nagar Colony?

Sri Ganapathi Nagar Colony is classified as Residential Class I Type - III. This classification indicates the type of development and usage permitted in the area.

What is the stamp duty rate for properties in Sri Ganapathi Nagar Colony?

The stamp duty rate for properties in Sri Ganapathi Nagar Colony is 7% of the guideline value or sale price, whichever is higher. This is part of the overall costs involved in property registration.

Where is the Sub Registrar Office for Sri Ganapathi Nagar Colony located?

The Chengleput Joint II Sub Registrar Office, which covers Sri Ganapathi Nagar Colony, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of property transactions in the area.