Guideline Value for SRI GANAPATHY NAGAR COLONY

Sri Ganapathy Nagar Colony guideline value

The current guideline value of Sri Ganapathy Nagar Colony is Rs 600 per sq.ft, effective from 1 July 2024. This colony is located in Kolathur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Ganapathy Nagar Colony has changed

Over the years, the guideline value for Sri Ganapathy Nagar Colony has seen several revisions. The earliest recorded figure was Rs 100 per sq.ft in 2007, which then increased significantly to Rs 600 per sq.ft in 2012. However, this value dropped to Rs 402 per sq.ft in 2017. The 2023 revision maintained the value at Rs 600 per sq.ft, which remained unchanged in the 2024 revision as well, indicating a 0% change between 2023 and 2024.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a remarkable 500%. Overall, from 2007 to 2024, the guideline value has increased by 500%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 1,600 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the 2024 figure for Sri Ganapathy Nagar Colony. Below are the guideline values for other streets in Kolathur:

• Sri Dhivakar Nagar: Rs 600 per sq.ft (2024)
• Sree Selva Ganapathy Nagar: Rs 600 per sq.ft (2024)
• Sri Narsimman Nagar: Rs 600 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil: Rs 1,500 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)
• Shenaha Garden: Rs 600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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 more information.

Which Sub Registrar Office covers Sri Ganapathy Nagar Colony?

The Sub Registrar Office that covers Sri Ganapathy 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 further assistance.

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

The guideline value plays a crucial role during property registration in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller approaches the registration office, the guideline value helps establish a baseline for the transaction. This process ensures transparency and uniformity in property dealings, making it essential for all parties involved to be aware of the current guideline value.

Frequently asked questions

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

The current guideline value of Sri Ganapathy Nagar Colony is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most significant increase being from Rs 100 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, and then maintaining Rs 600 per sq.ft from 2023 to 2024.

What is the land classification of Sri Ganapathy Nagar Colony?

Sri Ganapathy Nagar Colony is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Ganapathy 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 Rs 600 per sq.ft, the stamp duty would be Rs 42,000.