Guideline Value for SRI GANAPATHI NAGAR

Sri Ganapathi Nagar guideline value

The current guideline value of Sri Ganapathi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Maele Manapakkam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Sri Ganapathi Nagar has changed

Looking at the historical revisions, the guideline value for Sri Ganapathi Nagar was Rs 200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these years. Prior to that, in the 2017 revision, the value was Rs 134 per sq.ft, marking a 49% increase from 2017 to 2023. In the 2012 revision, the value was Rs 200 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 200 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Maele Manapakkam

In Maele Manapakkam, there are 14 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 450 per sq.ft. The median guideline value in this village is Rs 301 per sq.ft, making Sri Ganapathi Nagar's 2024 figure below that median.

• Sri Jayalakshmi Nagar: Rs 301 per sq.ft (2024)
• Sri Balaji Avenue: Rs 301 per sq.ft (2024)
• Sri Arunachala City: Rs 301 per sq.ft (2024)
• Sri Lakshmi Narayanagar Phase -II: Rs 300 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar Phase -I: Rs 300 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sri Ganapathi Nagar?

The Sub Registrar Office that covers Sri Ganapathi Nagar 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Maele Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable to the government, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value helps in establishing a fair assessment for taxation purposes. It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions in 2023 and 2024 both set at Rs 200 per sq.ft. The value increased by 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the land classification of Sri Ganapathi Nagar?

Sri Ganapathi Nagar is classified as Residential Class I Type - II. This classification impacts the guideline value and the types of properties that can be developed in the area.

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

The Chengleput Joint II Sub Registrar Office covers Sri Ganapathi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.