Guideline Value for Sri Ganapathy Nagar

Sri Ganapathy Nagar guideline value

The current guideline value of Sri Ganapathy Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Ganapathy Nagar has changed

The guideline value for Sri Ganapathy Nagar has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft. This increased significantly to Rs 3,200 per sq.ft in 2012, marking a remarkable rise of 433%. However, the value dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,520 per sq.ft in 2024, which is a rise of 10% from the previous year. The register has no figure for this street for the years 2002 and 2003.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 487%. The significant changes reflect the evolving real estate landscape in the area.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sri Ganapathy Nagar is above this median.

• Sri Elumalaiyan Nagar: Rs 2,750 per sq.ft (2024)
• Sridevi Nagar: Rs 3,300 per sq.ft (2024)
• Sridevi Amman Street: Rs 2,160 per sq.ft (2024)
• Sri Bharath Nagar: Rs 2,750 per sq.ft (2024)
• Sri Badhrakaliamman Nagar: Rs 3,300 per sq.ft (2024)
• Srinivasa Cross Street: Rs 2,750 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 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the amount of tax payable. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Ganapathy Nagar?

The current guideline value of Sri Ganapathy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, which is an overall increase of 487%.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations in Sri Ganapathy Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Sri Ganapathy Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification of Sri Ganapathy Nagar?

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