Guideline Value for Sigamani Street / Ganapathy Nagar

Sigamani Street / Ganapathy Nagar guideline value

The current guideline value of Sigamani Street / Ganapathy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sigamani Street / Ganapathy Nagar has changed

The guideline value of Sigamani Street / Ganapathy Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then saw a substantial increase to Rs 360 per sq.ft in 2007, which was a 59% increase from the previous revision. Following this, the value jumped to Rs 1,206 per sq.ft in 2017, reflecting a remarkable 235% increase.

In the 2023 revision, the guideline value rose to Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. It is important to note that there is no figure available for the 2012 revision for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Sigamani Street / Ganapathy Nagar below this median value.

• Sigamani Street / Shivashankaran Nagar: Rs 1,980 per sq.ft (2024)
• Sindalamman Koil 1st Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Sindalamman Koil Street: Rs 1,980 per sq.ft (2024)
• Singal Office Salai / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Singal Office West Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Shongvel Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sigamani Street / Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sigamani Street / Ganapathy Nagar?

The Sub Registrar Office that covers Sigamani Street / Ganapathy Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standard valuation rather than subjective market prices.

It is essential for buyers and sellers to be aware of the guideline value, as it directly influences the financial obligations during the registration of property. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sigamani Street / Ganapathy Nagar?

The current guideline value of Sigamani Street / Ganapathy Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over this period.

What is the land classification for Sigamani Street / Ganapathy Nagar?

Sigamani Street / Ganapathy Nagar is classified as Residential Class II Type - II, indicating its use for residential purposes.

What is the registration office for properties in Pammal?

The registration office for properties in Pammal is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being registered.