Guideline Value for SRI GANAPATHY NAGAR

Sri Ganapathy Nagar guideline value

The current guideline value of Sri Ganapathy Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kovilkuppam village under the Manavalanagar SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Ganapathy Nagar has changed

The guideline value for Sri Ganapathy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was a decrease of 33% from Rs 201 per sq.ft in the 2017 revision. The 2017 revision marked a significant increase of 49% from the previous figure, bringing it to Rs 300 per sq.ft in 2023.

The most recent revision in 2024 maintained the guideline value at Rs 300 per sq.ft, showing no change from the 2023 figure. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilkuppam

In Kovilkuppam, there are 68 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. Sri Ganapathy Nagar's guideline value is below this median.

• Sri Krishna Nagar: Rs 300 per sq.ft (2024)
• Srivari Nagar: Rs 300 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 per sq.ft (2024)
• Surya Town: Rs 300 per sq.ft (2024)
• S V Nagar: Rs 350 per sq.ft (2024)
• Sv Nagar Extension: Rs 300 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kovilkuppam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and fairness in the transaction process.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar?

The current guideline value of Sri Ganapathy Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a notable increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the classification of land in Sri Ganapathy Nagar?

Sri Ganapathy Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where is the Sub Registrar Office for Sri Ganapathy Nagar located?

The Sub Registrar Office for Sri Ganapathy Nagar is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated in Sri Ganapathy Nagar?

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 the guideline value of Rs 300 per sq.ft, the total stamp duty would be Rs 21,000.