Guideline Value for Sri Ganapathy Nagar Colony

Sri Ganapathy Nagar Colony guideline value

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

How the guideline value of Sri Ganapathy Nagar Colony has changed

The guideline value for Sri Ganapathy Nagar Colony has seen several revisions over the years. The earliest available figure is from 2007, where it was set at Rs 100 per sq.ft. This increased to Rs 300 per sq.ft in 2012, remaining unchanged until the 2017 revision, which saw a significant rise to Rs 201 per sq.ft. However, by 2023, the guideline value returned to Rs 300 per sq.ft, a 49% increase from the 2017 figure. The 2024 revision maintains this value at Rs 300 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%.

Guideline values in Salamangalam

In Salamangalam village, 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. The median guideline value for these streets is Rs 500 per sq.ft, placing Sri Ganapathy Nagar Colony's 2024 figure below that median.

• Sri Ganapathy Nagar Colony Extn: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. Please 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 Ganapathy Nagar Colony?

The Sri Ganapathy Nagar Colony is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Salamangalam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar Colony?

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

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most notable increase from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, and again returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Sri Ganapathy Nagar Colony?

Sri Ganapathy Nagar Colony is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft incurs a total fee of Rs 27,000.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in Sri Ganapathy Nagar Colony.