Guideline Value for Sri Ganapathi Nagar

Sri Ganapathi Nagar guideline value

The current guideline value of Sri Ganapathi Nagar in Atanancheri village is Rs 800 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - III.

How the guideline value of Sri Ganapathi Nagar has changed

Over the years, the guideline value for Sri Ganapathi Nagar has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 160 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a 400% rise. However, between 2012 and 2017, there was a decrease to Rs 536 per sq.ft, which is a drop of 33%. The value then rose to Rs 800 per sq.ft in 2023 and has remained the same in the 2024 revision, showing no change from the previous year.

The 2024 revision maintains the same rate as 2023, indicating stability in the guideline value at Rs 800 per sq.ft. Notably, the increase from 2017 to 2023 was 49%, reflecting a significant adjustment in the value over that six-year period. The register has no figure for this street for the years 2002 and 2003.

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 of Sri Ganapathi Nagar is above this median.

• Sri Ganapathi Nagar Colony: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganapathi Nagar?

Sri Ganapathi Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Atanancheri. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property. Buyers must ensure that the transaction is registered at the guideline value or the sale price, whichever is higher, to comply with legal requirements.

When selling property, the guideline value can influence the pricing strategy. Sellers should be aware of the current guideline value to set a competitive price that aligns with market expectations and regulatory standards.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, with a significant increase from Rs 160 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, followed by fluctuations in subsequent years. The value has remained stable at Rs 800 per sq.ft since 2023.

What is the land classification for Sri Ganapathi Nagar?

Sri Ganapathi Nagar is classified as Residential Special Type - III, which indicates its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee Rs 16,000.