Guideline Value for Sri Ganapathy Nagar

Sri Ganapathy Nagar guideline value

The current guideline value of Sri Ganapathy Nagar, located in Kilkattalai village, under the Pallavaram SRO, is Rs 2,530 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sri Ganapathy Nagar has changed

The guideline value for Sri Ganapathy Nagar has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 2,083 per sq.ft. This was followed by a revision in 2012, where the value decreased to Rs 2,300 per sq.ft, marking a decline of 10%. In 2017, the value changed to Rs 1,541 per sq.ft, which was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,300 per sq.ft, and the latest revision in 2024 saw a further increase of 10% to Rs 2,530 per sq.ft.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 21%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, which is equal to the guideline value for Sri Ganapathy Nagar.

• Sri Ambal Nagar: Rs 4,125 per sq.ft (2024)
• Soundarajan Nagar: Rs 3,080 per sq.ft (2024)
• S.R.V.S. Colony: Rs 3,300 per sq.ft (2024)
• S.R.V.S. Colony Extn: Rs 3,300 per sq.ft (2024)
• Self Help Private Industrial Estate: Rs 2,200 per sq.ft (2024)
• Self Help Industrial Estate 1 To 5 Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total fees together Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ganapathy Nagar?

The Sub Registrar Office that covers Sri Ganapathy Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that transactions reflect the official value set by the government.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar?

The current guideline value of Sri Ganapathy Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,083 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, with various revisions in between, including increases and a notable decrease in 2017.

What is the registration office for Sri Ganapathy Nagar?

The registration office for Sri Ganapathy Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for properties in Kilkattalai?

The stamp duty for properties in Kilkattalai is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that all sales reflect the official value set by the government, promoting transparency in the real estate market.