Guideline Value for SRI GANESA NAGAR

Sri Ganesa Nagar guideline value

The current guideline value of Sri Ganesa Nagar is Rs 371 per sq.ft, effective from 1 July 2024. This area is located in Siyamangalam village, under the Walajabad SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Ganesa Nagar has changed

The guideline value for Sri Ganesa Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 248 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 371 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 50%. The 2024 revision has maintained the same value as the 2023 revision, resulting in a 0% change from the previous year. Overall, from 2017 to 2024, the guideline value increased by 50%.

Guideline values in Siyamangalam

Siyamangalam village has 12 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 371 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Sri Ganesa Nagar is above this median.

• Sri Ganapathy Nagar: Rs 250 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 300 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 371 per sq.ft (2024)
• Sri Annamalaiyar Nagar: Rs 300 per sq.ft (2024)
• Sri Ramajayam Nagar: Rs 371 per sq.ft (2024)
• Sri Samy Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganesa Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 3,71,000. The stamp duty at 7% would be Rs 25,970, and the registration fee at 2% would be Rs 7,420, totaling Rs 33,390. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganesa Nagar?

Sri Ganesa Nagar falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Siyamangalam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. This value is particularly important for legal and taxation purposes, as it helps in calculating the financial obligations of both the buyer and seller during the transaction.

Frequently asked questions

What is the current guideline value of Sri Ganesa Nagar?

The current guideline value of Sri Ganesa Nagar is Rs 371 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 371 per sq.ft from 2023 to 2024, with a 50% increase from Rs 248 per sq.ft in 2017 to 2023.

What is the land classification for Sri Ganesa Nagar?

Sri Ganesa Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Which Sub Registrar Office covers the registration for Sri Ganesa Nagar?

The Walajabad Sub Registrar Office covers the registration for Sri Ganesa Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

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 current guideline value, the total stamp duty and registration fees would amount to Rs 33,390.