Guideline Value for Sri Ganapathy Nagar Colony Extn

Sri Ganapathy Nagar Colony Extn guideline value

The current guideline value for Sri Ganapathy Nagar Colony Extn is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village and falls under the Sriperumpudur SRO. The land classification for this region is Residential Class II Type - I.

How the guideline value of Sri Ganapathy Nagar Colony Extn has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 201 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 300 per sq.ft. The 2023 revision also maintained the guideline value at Rs 300 per sq.ft, and there was no change from 2023 to 2024.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Sri Ganapathy Nagar Colony Extn is below this median.

• Sri Ganapathy Nagar Colony: Rs 300 per sq.ft (2024)
• Sri Durgai Sidhar Nagar: Rs 550 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Avenue: Rs 1,500 per sq.ft (2024)
• Sri Rama Anjineya Garden: Rs 600 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathy Nagar Colony Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganapathy Nagar Colony Extn?

The Sub Registrar Office covering Sri Ganapathy Nagar Colony Extn 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 Salamangalam

The guideline value is a crucial factor when registering properties in Salamangalam. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable by the buyer.

When buying or selling property, it is essential to be aware of the current guideline value, as it ensures compliance with legal requirements during the registration process. Buyers should consider this value when negotiating sale prices to ensure they are within the legal framework.

Frequently asked questions

What is the current guideline value for Sri Ganapathy Nagar Colony Extn?

The current guideline value for Sri Ganapathy Nagar Colony Extn is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, with no change in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Sri Ganapathy Nagar Colony Extn is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification for Sri Ganapathy Nagar Colony Extn?

The land classification for Sri Ganapathy Nagar Colony Extn is Residential Class II Type - I, indicating its suitability for residential development.