Guideline Value for Shankar Ganesh Nagar

Shankar Ganesh Nagar guideline value

The current guideline value of Shankar Ganesh Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Shankar Ganesh Nagar has changed

In the 2017 revision, the guideline value was set at Rs 1,005 per sq.ft. It remained unchanged at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating no increase over this period. The revisions for the years 2002, 2003, 2007, and 2012 do not have figures recorded for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has also increased by 49%. The consistent value of Rs 1,500 per sq.ft in the last two revisions reflects stability in the guideline value for Shankar Ganesh Nagar.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median of Rs 1,500 per sq.ft. The guideline value of Shankar Ganesh Nagar aligns with this median.

• Sengutuvan Street: Rs 1,200 per sq.ft (2024)
• Shunmugam Nagar: Rs 1,000 per sq.ft (2024)
• Shunmugam Nagar Phase I: Rs 1,200 per sq.ft (2024)
• Shyam Nagar: Rs 1,200 per sq.ft (2024)
• Singaram Nagar: Rs 1,200 per sq.ft (2024)
• Sirpi Nagar (part - I): Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. 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 Shankar Ganesh Nagar?

The Sub Registrar Office that covers Shankar Ganesh Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Gooduvancheri. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the stamp duty is calculated based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shankar Ganesh Nagar?

The current guideline value of Shankar Ganesh Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2023 to 2024, while it increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in the subsequent revisions, reflecting a 49% increase overall from 2017 to 2024.

What are the other guideline values in Gooduvancheri?

In Gooduvancheri, the guideline values range from Rs 1,000 to Rs 3,500 per sq.ft, with a median of Rs 1,500 per sq.ft. Shankar Ganesh Nagar's guideline value matches this median.

What fees are involved when registering property in Shankar Ganesh Nagar?

The fees involved include stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a property valued at Rs 15,00,000, the total fees would amount to Rs 1,35,000.

Where can I find the Sub Registrar Office for Shankar Ganesh Nagar?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find more information online.