Guideline Value for SRI GANAPATHY NAGAR

Sri Ganapathy Nagar guideline value

The current guideline value of Sri Ganapathy Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Valluvapakkam village, under the Walajabad SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sri Ganapathy Nagar has changed

The guideline value for Sri Ganapathy Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 250 per sq.ft, which then decreased to Rs 167 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The current revision in 2024 maintains this figure, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only available revisions are from 2012, 2017, 2023, and the current 2024 revision.

Guideline values in Valluvapakkam

In Valluvapakkam, there are 20 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 800 per sq.ft, with the median being Rs 250 per sq.ft. Sri Ganapathy Nagar's 2024 guideline value aligns with this median.

• Sri Lakshmi Guberan Nagar: Rs 300 per sq.ft (2024)
• Sri Angalaparameshwari Nagar: Rs 250 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 250 per sq.ft (2024)
• Sri Sai Nagar: Rs 300 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 250 per sq.ft (2024)
• Sri Saravana Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total charges Rs 22,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ganapathy Nagar?

The Sub Registrar Office that covers Sri Ganapathy Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valluvapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar?

The current guideline value of Sri Ganapathy Nagar is Rs 250 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 a decrease to Rs 167 per sq.ft in 2017, followed by a return to Rs 250 per sq.ft in 2023 and 2024. The value in 2012 was also Rs 250 per sq.ft.

What are the stamp duty and registration fees for properties in Sri Ganapathy Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations in Sri Ganapathy Nagar?

The Walajabad Sub Registrar Office handles property registrations in Sri Ganapathy Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the correct revenue is collected by the government based on the higher of the guideline value or the sale price.