Guideline Value for Sri Ganapathi Nagar Colony

Sri Ganapathi Nagar Colony guideline value

The current guideline value of Sri Ganapathi Nagar Colony, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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 earliest recorded revision was in 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 300% increase. However, in 2017, the value decreased to Rs 335 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 500 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Sri Ganapathi Nagar Colony's guideline value is below this median.

• Sri Iyyanar Nagar: Rs 500 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)
• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)
• Sri Muppathamman Nagar: Rs 600 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)
• Soundarapandian Nagar Extn: Rs 500 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 guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total charges Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

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, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelamangalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

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 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Ganapathi Nagar Colony?

Sri Ganapathi Nagar Colony is classified as Residential Class I Type - I.

Where can I find the registration office for properties in this area?

The registration office for properties in Sri Ganapathi Nagar Colony is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.