Guideline Value for Sri Ganapathi Nagar

Sri Ganapathi Nagar guideline value

The current guideline value of Sri Ganapathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Chettipunniyam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Ganapathi Nagar has changed

Since the 2007 revision, the guideline value for Sri Ganapathi Nagar has seen significant changes. In 2007, the guideline value was Rs 200 per sq.ft, which increased by 500% to Rs 1,200 per sq.ft in 2012. However, from 2012 to 2017, it decreased by 33% to Rs 804 per sq.ft. The value then rose by 49% to Rs 1,200 per sq.ft in the 2023 revision, remaining unchanged at Rs 1,200 per sq.ft in the 2024 revision. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value for Sri Ganapathi Nagar is above this median.

• Sri Ganapathy Nagar Extension-II: Rs 1,200 per sq.ft (2024)
• Sri Devanathan Nagar: Rs 900 per sq.ft (2024)
• Sri Desikan Nagar: Rs 900 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 3: Rs 900 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 5: Rs 900 per sq.ft (2024)
• Sri Ambujammal Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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?

Sri Ganapathi Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Chettipunniyam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Nagar?

The current guideline value of Sri Ganapathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2024, with fluctuations in between, including a decrease in 2017.

What is the land classification for Sri Ganapathi Nagar?

Sri Ganapathi Nagar is classified as Residential Special Type - II, which influences its guideline value.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,200 per sq.ft, the total guideline value is Rs 12,00,000, leading to a stamp duty of Rs 84,000.