Guideline Value for SRI RAM GANAPATHI NAGAR

Sri Ram Ganapathi Nagar guideline value

The current guideline value of Sri Ram Ganapathi Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area falls under Vichoor village and is classified as Residential Class I Type - I, governed by the Thiruvottiyur SRO.

How the guideline value of Sri Ram Ganapathi Nagar has changed

The guideline value for Sri Ram Ganapathi Nagar has undergone several revisions over the years. Starting from Rs 100 per sq.ft in 2007, it increased significantly to Rs 440 per sq.ft in 2012, followed by a decrease to Rs 295 per sq.ft in 2017. The subsequent revisions saw an increase to Rs 441 per sq.ft in 2023 and finally to Rs 485 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2012 to 2017, there was a notable decrease of 33%, while the jump from 2017 to 2023 was a substantial 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 385% from 2007 to 2024.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is equal to the current guideline value of Sri Ram Ganapathi Nagar.

• Sri Ram Nagar: Rs 485 per sq.ft (2024)
• Sri Ramnagar Extn: Rs 485 per sq.ft (2024)
• Srinivasa Nagar: Rs 485 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 485 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)
• St. Thomas Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would amount to Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total charges to Rs 43,650. 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 Ram Ganapathi Nagar?

The Sub Registrar Office that covers Sri Ram Ganapathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vichoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official rates set by the government.

When buying or selling property, the guideline value helps in determining the minimum value on which stamp duty is calculated. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Ram Ganapathi Nagar?

The current guideline value of Sri Ram Ganapathi Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 485 per sq.ft in 2024, reflecting an overall increase of 385% over the years.

What is the registration office for Sri Ram Ganapathi Nagar?

The registration office for Sri Ram Ganapathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Sri Ram Ganapathi Nagar?

Stamp duty in Sri Ram Ganapathi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

What are the other streets in Vichoor with the same guideline value?

Other streets in Vichoor with the same guideline value of Rs 485 per sq.ft include Sri Ram Nagar, Sri Ramnagar Extn, Srinivasa Nagar, Sri Mugambigai Nagar, Sri Mahalashmi Nagar, and St. Thomas Nagar.