Guideline Value for Sri Ganapathi Nagar Colony

Sri Ganapathi Nagar Colony guideline value

The current guideline value of Sri Ganapathi Nagar Colony, located in Melakottyur village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft as per the 2023 revision. 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 undergone several revisions over the years. The 2007 revision set the guideline value at Rs 150 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, by 2017, the value dropped to Rs 670 per sq.ft before rising again to Rs 1,000 per sq.ft in the 2023 revision.

In terms of percentage changes, from 2007 to 2012, there was a remarkable increase of 567%. The value then decreased by 33% from 2012 to 2017. The most recent change from 2017 to 2023 saw an increase of 49%. Overall, the guideline value has increased by 567% from 2007 to 2023.

Guideline values in Melakottyur

Currently, there are no specific guideline values provided for other streets in Melakottyur under the Gooduvancheri SRO. Sri Ganapathi Nagar Colony is the only street mentioned in the available data.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ganapathi Nagar Colony?

The Sri Ganapathi Nagar Colony falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Melakottyur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, which are calculated based on this value.

It is essential for buyers and sellers to be aware of the guideline value as it directly influences the financial aspects of property transactions. Ensuring compliance with the current guideline value helps in smooth registration and avoids any legal complications.

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 1,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the land classification for Sri Ganapathi Nagar Colony?

The land classification for Sri Ganapathi Nagar Colony is Residential Special Type - III.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Ganapathi Nagar Colony?

Stamp duty is calculated at 7% of 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 stamp duty would be Rs 70,000.