Guideline Value for SRI GANAPATHYPURAM PHASE I

Sri Ganapathypuram Phase I guideline value

The current guideline value of Sri Ganapathypuram Phase I is Rs 154 per sq.ft. This area is located in Eagattur village and falls under the Manavalanagar SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Ganapathypuram Phase I has changed

The guideline value for Sri Ganapathypuram Phase I has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which decreased to Rs 100 per sq.ft in the 2017 revision. Following this, the value increased significantly by 50% to Rs 150 per sq.ft in the 2023 revision, and then rose again by 3% to the current value of Rs 154 per sq.ft effective from 1 July 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a notable decline of 33%. However, the overall change from 2012 to 2024 shows a slight increase of 3%. The most recent change from 2023 to 2024 reflects a modest rise of 3% in the guideline value.

Guideline values in Eagattur

In Eagattur, there are 31 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 330 per sq.ft, with a median value of Rs 190 per sq.ft. The guideline value for Sri Ganapathypuram Phase I is below this median.

• Sri Ganapathypuram: Rs 154 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 154 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 170 per sq.ft (2024)
• Sri Radhakrishna Nagar: Rs 154 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 154 per sq.ft (2024)
• Thirumalai Nagar: Rs 190 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathypuram Phase I

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,54,000. The stamp duty at 7% would be Rs 10,780, while the registration fee at 2% would be Rs 3,080, bringing the total to Rs 13,860. 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 calculations.

Which Sub Registrar Office covers Sri Ganapathypuram Phase I?

The Sub Registrar Office that covers Sri Ganapathypuram Phase I 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 Eagattur

The guideline value is a critical factor in property transactions within Eagattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is assessed to calculate the applicable duties. This value is essential for both parties to understand, as it directly impacts the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Ganapathypuram Phase I?

The current guideline value of Sri Ganapathypuram Phase I is Rs 154 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and finally to Rs 154 per sq.ft in 2024.

What is the stamp duty for a property in Sri Ganapathypuram Phase I?

The stamp duty for a property in Sri Ganapathypuram Phase I is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 10,780.

Which Sub Registrar Office covers this area?

The Manavalanagar Sub Registrar Office covers Sri Ganapathypuram Phase I, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification of Sri Ganapathypuram Phase I?

The land classification for Sri Ganapathypuram Phase I is Residential Class II Type - I, indicating its suitability for residential development.