Guideline Value for Sri Ganapathi Nagar

Sri Ganapathi Nagar guideline value

The current guideline value of Sri Ganapathi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Ganapathi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft, marking a decline of 33%. The guideline value then increased significantly to Rs 200 per sq.ft in the 2023 revision, reflecting a 49% rise from the 2017 figure.

The most recent 2024 revision has maintained the guideline value at Rs 200 per sq.ft, showing no change from the previous year. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Sri Ganapathi Nagar is below this median.

• Sri Gayathiri Doctor's Nest: Rs 400 per sq.ft (2024)
• Sri Gayathri Doctors Nest Ph.II: Rs 500 per sq.ft (2024)
• Sri City: Rs 350 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 400 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Amman Garden: Rs 250 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganapathi Nagar?

The Sub Registrar Office that covers Sri Ganapathi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Somangalam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions comply with legal requirements.

Additionally, the guideline value helps maintain transparency in property transactions, providing a standardized reference point for both buyers and sellers. It is essential for parties involved in property dealings to be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What are the stamp duty and registration fees for property in Sri Ganapathi Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which Sub Registrar Office is responsible for Sri Ganapathi Nagar?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, covers Sri Ganapathi Nagar.

What is the land classification of Sri Ganapathi Nagar?

Sri Ganapathi Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.