Guideline Value for SRI GANAPATHI NAGAR COLONY

Sri Ganapathi Nagar Colony guideline value

The current guideline value of Sri Ganapathi Nagar Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This colony is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I 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. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 3,000 per sq.ft in 2023, and then rose by 10% to Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 65%. The jump from 2017 to 2023 was particularly notable at 124%, while the change from 2012 to 2017 saw a decrease of 33%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Sri Ganapathi Nagar Colony's 2024 figure above this median.

• Sri Kumaran Avenue: Rs 1,700 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sri Alamelumangapuram: Rs 1,700 per sq.ft (2024)
• Spic Gel Co: Rs 3,300 per sq.ft (2024)
• Srinivasan Garden: Rs 1,700 per sq.ft (2024)
• South Border Lane Pattai Salai: Rs 1,100 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total amount for stamp duty and registration fee would be Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganapathi Nagar Colony?

The Sub Registrar Office that covers Sri Ganapathi Nagar Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions within Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Sri Ganapathi Nagar Colony?

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

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

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Sri Ganapathi Nagar Colony?

The Sub Registrar Office for Sri Ganapathi Nagar Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.