Guideline Value for Sri Ganapathi Nagar Colony

Sri Ganapathi Nagar Colony guideline value

The current guideline value of Sri Ganapathi Nagar Colony is Rs 800 per sq.ft. This colony is located in Atanancheri village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Ganapathi Nagar Colony has changed

The guideline value for Sri Ganapathi Nagar Colony has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 160 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 536 per sq.ft. The value then increased by 49% to Rs 800 per sq.ft in the 2023 revision, which remains unchanged in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. The current guideline value of Rs 800 per sq.ft has been effective since 1 July 2024, and it has remained consistent since the 2023 revision.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Sri Ganapathi Nagar Colony is above this median.

• Sri Ganapathi Nagar: Rs 800 per sq.ft (2024)
• Sri Drowpathi Amman Nagar: Rs 700 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 700 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 500 per sq.ft (2024)
• Sri Kamatchi Nagar: Rs 700 per sq.ft (2024)
• Sri Balaji Nagar: Rs 700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. 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 more details.

Which Sub Registrar Office covers Sri Ganapathi Nagar Colony?

The Sub Registrar Office that covers Sri Ganapathi Nagar Colony 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 Atanancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Atanancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Sri Ganapathi Nagar Colony is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being Rs 800 per sq.ft since 2023. The value has seen increases and decreases, with a notable rise of 400% from Rs 160 per sq.ft in 2007 to Rs 800 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Sri Ganapathi Nagar Colony?

The Gooduvancheri Sub Registrar Office is responsible for property registrations in Sri Ganapathi Nagar Colony. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu.

What is the land classification for Sri Ganapathi Nagar Colony?

Sri Ganapathi Nagar Colony is classified as Residential Special Type - III. This classification may affect the guidelines and regulations applicable to property transactions in the area.