Guideline Value for Sri Ganapathi Nagar

Sri Ganapathi Nagar guideline value

The current guideline value of Sri Ganapathi Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 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 has changed

Looking at the revisions over the years, the guideline value for Sri Ganapathi Nagar has seen several changes. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,000 per sq.ft. However, in the 2024 revision, the value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram village, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Sri Ganapathi Nagar is above this median.

• Sriganapathy Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)
• Sri Ganesh Nagar Annexe (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Sri Kandan Nagar: Rs 1,300 per sq.ft (2024)
• Srikandhan Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,200 per sq.ft (2024)
• Sri Krishna Nagar (Moolachatram) (Ward-02): Rs 1,600 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Sri Ganapathi Nagar?

The Sub Registrar Office that covers Sri Ganapathi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ganapathi Nagar?

The current guideline value of Sri Ganapathi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification of Sri Ganapathi Nagar?

Sri Ganapathi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sri Ganapathi Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Sri Ganapathi Nagar.